Discover the resilient history of a U.K. logistics company that has weathered wars and Brexit, only to face a modern threat in the form of a ransomware attack. The podcast draws parallels between knights in battle and the company's tech team as they navigate chaos. It delves into the devastating effects of data loss and the harrowing decisions that follow, including the moral dilemma of paying a ransom. With a spotlight on the notorious Akira group, the discussion uncovers the evolving landscape of cybercrime and its impact on established enterprises.
Knights of Old demonstrated remarkable resilience throughout its 150-year history, yet became vulnerable to an unprecedented ransomware attack that halted operations.
The decision not to pay the ransom led to severe repercussions, including data leaks and the eventual dismantlement of the company, highlighting the urgency of cybersecurity preparedness.
Deep dives
Historical Resilience and Adaptation
Knights of Old boasts a rich history, having operated since 1865 and transitioning from horse-drawn carriages to hundreds of trucks. The company's adaptability is highlighted as it successfully navigated technological advancements and significant challenges, including two world wars and the complexities of Brexit. This long-standing reputation for reliability allowed it to build a strong workforce and reputation in logistics across the UK and Europe. However, even with such a storied past, the company faced an unprecedented crisis when it became the target of a ransomware attack.
The Ransomware Attack Unfolds
In June 2023, the company's operations came to a halt when they discovered a ransomware note indicating a significant breach of their systems. Despite extensive cybersecurity measures, including training and cyber insurance, the company fell victim to a brute force attack, allowing hackers to infiltrate their network. The attackers not only stole data but also encrypted crucial information, leading to the internal chaos within the company as employees resorted to manual operations while dealing with the aftermath. The discovery left leadership grappling with the decision of whether to pay the ransom, aware that the potential payout might not guarantee success in recovering their data.
The Aftermath and Consequences
Ultimately, Knights of Old chose not to pay the ransom, leading the hackers to leak the company's sensitive data on the dark web. With their operations crippled and financial reports lost due to the hack, the company faced insurmountable challenges, including bankruptcy of its parent company shortly after the attack. Many employees lost their jobs, and the company that had thrived for over a century was dismantled in mere moments. The incident serves as a stark reminder of the evolving cyber threats facing businesses, emphasizing the critical need for robust cybersecurity measures in an increasingly digital world.
For 150 years Knights of Old, a U.K. logistics company, survived everything from two world wars to Brexit. Then a ransomware group called Akira stormed the company's networks. In just a blink of an eye, everything changed.