Ransomware Destroys 160-Year-Old Firm

[akkem]

Akira ransomware group crippled the UK's 160-year-old Knights of Old logistics firm, leading to its collapse and 730 job losses. It seems the firm likely had inadequate incident response and disaster recovery plans, making it hard to resume operations post-attack.

To stay resilient against ransomware—prevent what you can, detect what you miss, and recover from what hits.

https://cybersecuritynews.com/160-year-old-haulage-firm-collapses/

[akkem]

Investigations revealed that the Akira group uses a targeted approach: https://cybersecuritynews.com/akira-ransomware-using-compromised-credentials-and-public-tools/

[nkeaton]

@akkem   Thank you for sharing that.  I did find it interesting in a recent ISC2 article that stated that the FBI found extortionware to be a bigger risk than ransomware currently.  My personal concern is killware which do not understand the motivation as well as "theft".  It is of course not profitable to protect against that, but just as ISC2 preaches People are more important to protect than other things (paraphrased a little).  People are our most important asset.  

[Steve-Wilme]

The firm's administration happened back in 2023:

https://www.northantstelegraph.co.uk/news/people/kettering-haulage-company-knights-of-old-group-goes...

Many smaller companies will still be ill equipped to deal with a cyber attack.  And wouldn't typically be able to afford the on staff expertise to respond to such an incident.  They might have business interruption insurance, but probably not cyber insurance.