A single compromised password brought down KNP Logistics, putting 730 employees out of work and highlighting the devastating impact of cyber attacks on British businesses. KNP Logistics, a Northamptonshire transport company with roots dating back to 1865, became the latest victim of the Akira ransomware group in June 2024, joining tens of thousands of UK businesses that have fallen prey to such attacks. As UK authorities arrested four suspects connected to recent retail cyber attacks, the message is clear: no business, regardless of size or history, is immune from the ransomware threat. Once inside, the Akira gang deployed ransomware that encrypted the company’s essential data and locked down its internal systems, demanding an estimated £5 million ransom. KNP director Paul Abbott revealed the human cost of the cyber attack, admitting he hasn’t told the employee whose compromised password likely led to the company’s destruction. Research shows that over 80% of data breaches are linked to compromised credentials, with the average cost of a UK cyber breach rising to £3.58 million between 2023 and 2024. Small and medium-sized enterprises (SMEs) are particularly vulnerable, with 56% of all ransomware attacks in 2024 targeting businesses with fewer than 50 employees. “We need organisations to take steps to secure their systems, to secure their businesses,” he said, as the NCSC battles international ransomware gangs. Cyber Security News is a Dedicated News Platform For Cyber News, Cyber Attack News, Hacking News & Vulnerability Analysis. The Akira group, which emerged in March 2023, has specifically focused on SMEs across the UK and US, earning an estimated $42 million from over 250 attacks in its first year. M&S suffered massive disruption after hackers deployed DragonForce ransomware, resulting in estimated weekly losses of £40 million. One password is believed to have been all it took for a ransomware gang to destroy a 158-year-old company and put 700 people out of work. The collapse of KNP is part of a broader wave of ransomware attacks targeting UK businesses. Major retailers including Marks & Spencer, Co-op, and Harrods have all been hit by cyber criminals in recent months, reads the BBC report. Richard Horne, CEO of the National Cyber Security Centre (NCSC), warns that organizations must urgently strengthen their defenses. Gurubaran is a co-founder of Cyber Security News and GBHackers On Security.
This Cyber News was published on cybersecuritynews.com. Publication date: Mon, 21 Jul 2025 14:20:10 +0000