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158-Year-Old Company Shut Down Over Password Breach: 700 Left Jobless

158-Year-Old Company Shut Down Over Password Breach: 700 Left Jobless
In the UK, cyberattacks are destroying hundreds of companies, leaving thousands unemployed. One such company was KNP, a logistics firm in Northamptonshire with a history of 158 years. It fell victim to a cyberattack and was forced to shut down, resulting in 700 employees losing their jobs.

According to Pravilamag, the attack was carried out by a hacker group called "Akira." They gained access to the company’s internal systems by guessing a simple and easily predictable employee password.

After infiltrating the system, the hackers encrypted all company data and disabled internal operations. They then demanded a ransom to restore access. In a note, the hackers wrote:

“If you’re reading this, it means your company’s internal infrastructure is completely or partially down. Let’s skip the tears and complaints and have a constructive dialogue.”

Experts say ransom demands in such cases typically reach around £5 million. KNP couldn’t afford such a sum, so the data was lost, and the company was declared bankrupt. As a result, 700 employees lost their jobs.

According to Pravilamag, around 19,000 cyberattacks were reported in the UK last year. The average ransom is approximately £4 million, and studies suggest that about a third of affected companies choose to pay.

In February, a similar attack targeted the crypto exchange Bybit. Hackers gained control of an Ethereum wallet and stole cryptocurrency worth $1.5 billion.
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News » World » 158-Year-Old Company Shut Down Over Password Breach: 700 Left Jobless