Weak password allows hackers to shut down UK’s 158-year-old transport company leaving 700 jobless

A 158-year-old UK transport company, KNP Logistics, has collapsed following a ransomware attack, resulting in the loss of 700 jobs.

The Akira hacker group allegedly gained access by guessing an employee’s password, then encrypted the company’s data and demanded a ransom, estimated at £5 million, BBC reported.

According to KNP director Paul Abbott, hackers gained access to the network by exploiting a weak employee password, allowing them to encrypt company data and lock critical systems.