Ransomware

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.

Ingram Micro Holding Corporation is experiencing a system outage due to a detected ransomware attack on its internal systems. The company has taken affected systems offline, engaged cybersecurity experts, and notified law enforcement. They are working to restore operations and apologize for disruptions.