Tag: Bankruptcy
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The Ransomware That Never Ends: Einhaus Group Collapses After Paying Royal’s $230K Ransom
The prominent German firm Einhaus Group, renowned for its specialization in mobile device insurance and servicing, has formally announced the commencement of bankruptcy proceedings. The downfall was precipitated by a cyberattack in March 2023, the ramifications of which the company was ultimately unable to overcome. One morning in mid-March of last year, company founder Wilhelm…
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Weak Password Destroys 158-Year-Old UK Transport Company: Akira Ransomware Claims 700 Jobs
In 2023, one of the United Kingdom’s oldest transport companies—established 158 years ago—declared bankruptcy following a devastating ransomware attack. The cyber assault brought the operations of Knights of Old (also known as KNP) to a standstill, immobilizing over 500 lorries and resulting in the loss of 700 jobs. According to a report by the BBC,…