https://www.bbc.com/news/articles/cx2gx28815wo
A single compromised password led to the complete destruction of KNP, a 158-year-old Northamptonshire transport company that operated 500 lorries under the Knights of Old brand, resulting in 700 job losses when the Akira ransomware gang encrypted all company data and demanded up to £5 million for its return. The attack demonstrates the devastating impact of basic cybersecurity failures, with company director Paul Abbott revealing that hackers likely gained system access by simply guessing an employee’s password before locking down all internal systems and data needed to run the business. Despite having industry-standard IT systems and cyber insurance, KNP was forced into liquidation when it couldn’t afford the ransom payment, joining an estimated 19,000 UK businesses targeted by ransomware attacks last year.
The KNP incident reflects a broader ransomware crisis affecting major UK retailers including M&S, Co-op, and Harrods, with Co-op’s CEO confirming that all 6.5 million members had their data stolen in recent attacks. National Crime Agency statistics show ransomware incidents have nearly doubled to 35-40 cases per week over the past two years, with Suzanne Grimmer of the NCA predicting this could be “the worst year on record for ransomware attacks in the UK.” The typical UK ransom demand now averages £4 million, with industry research indicating that approximately one-third of targeted companies simply pay the criminals rather than risk total business failure.
Government cybersecurity officials are warning that the threat has reached critical levels, with Parliament’s Joint Committee on the National Security Strategy identifying a high risk of “catastrophic ransomware attack at any moment” and the National Audit Office describing the threat as severe and rapidly advancing. Richard Horne, CEO of the National Cyber Security Centre, emphasizes that companies must integrate cybersecurity considerations into all business decisions, while the government considers banning public bodies from paying ransoms and requiring private companies to obtain permission before making payments to criminal groups. The crisis has exposed how younger hackers are lowering the technical barrier to cybercrime by using social engineering tactics like calling IT helpdesks, with many criminals transitioning from gaming backgrounds to exploit business vulnerabilities through readily available dark web tools.