Data Breach

A 158-year-old British transportation firm, Knights of Old (KNP), has ceased operations after a ransomware attack stemming from a weak employee password. Hackers encrypted critical data, demanding a £5 million ransom which KNP couldn’t afford. Despite having cyberattack insurance, the damage was catastrophic, with all data, servers, and backups compromised. The UK’s NCSC is working to combat the rising threat of ransomware, which averages around £4 million in demands for UK companies. The incident resulted in approximately 700 job losses.

China’s Ministry of State Security warns of increasing cybersecurity threats from hidden “backdoors” in foreign-made technology. These backdoors, either intentionally embedded or unwittingly created, can grant unauthorized access for espionage, potentially turning everyday devices into tools for remote surveillance and data theft. The Ministry urges vigilance, advocating for domestically developed technology and robust security protocols to mitigate these risks and protect national security.