Whenever you’re hired for a new job, you often get a personal work account on their platform. For this account, you either get a generated security password or you have to choose your own personal one. This was also the case for UK trucking company KNP. It was a merger of multiple logistics companies. The oldest company, Knights of Old, was founded in 1865. However, after one IT disaster, the company had to close its doors after 158 years! Keep on reading to discover what led to the end of KNP!
Trucker Company KNP Closes Its Doors After Hackers Destroy Data
In 2023, a hacker group known as Akira hacked into the system of KNP and was able to lock out all staff members, which made running the company impossible. The only thing visible? A ransom note stating that most of their infrastructure would already be permanently lost. The only way to save their company would be by paying. However, no specific amount was named in the note.
While the company had some funds to pay these hackers to get their platform back, a specialist ransomware negotiation firm said that it could cost as much as £5 million to get everything back. This is an amount KNP couldn’t afford.
The CEO of the company said their IT practices were up to standard and that they even had insurance against cyber attacks. However, a weak password gave the hackers access to their systems and encrypt all their data. The company wasn’t able to keep running its 500 trucks, and eventually had to close its doors and fire 700 employees.
The employee with the weak password doesn’t know
A spokesperson for the company said that they most likely knew what employee’s password was responsible for the hack. It was a predictable combination, making it easier for hackers to gain access to the systems. However, they have not informed the person yet, as it no longer matters. It should also be partially the company’s fault for allowing weak passwords to be used in their systems. There are multiple password manager services and password generators that can create very strong passwords for employees.