A Tragic Story - How a Weak password allowed hackers to sink a 158-year-old company

I can’t stop thinking about the company that collapsed because of a weak password.

158 years of history—gone.

700 people—out of work.

One ransomware attack—because one password was too easy to guess.

As someone in cyber security, this story feels devastating in a way I can’t shake.

This isn’t just a cautionary tale—it’s a human tragedy.

A business that made it through wars, recessions, even the pandemic… undone in days by something so preventable.

It wasn’t nation-state level espionage.

It was reportedly a remote desktop login, exposed online, protected by a weak password.

The attackers didn’t need brilliance—just patience. And the door was open.

This is what keeps cyber professionals up at night—not the advanced threats, but the basic gaps we still see every day.

That it didn’t have to end this way.

That 700 people had to tell their families they don’t have jobs anymore.

That somewhere, someone is blaming themselves for clicking something, or forgetting to update a setting, or not knowing what to ask for.

This is why cybersecurity isn’t about technology. It’s about people.

And we need to stop treating it like a technical problem to delegate.

• Cyber hygiene needs to be part of every business, big or small. MFA. Strong passwords. Regular updates. Backups that actually work. These aren’t luxuries—they are lifelines.
• Leaders need to lead on this. If you’re in the boardroom, you need to ask questions about your cyber posture with the same urgency as your financials.
• We need systemic reform. Small businesses shouldn’t be left behind.
  Regulations should protect people, not just punish failures.
  And cyber education needs to be everywhere, from schools to shop floors to senior management.
  
  
  
  
  

Ask yourself:

• Do we use multi-factor authentication everywhere?
• When was the last time we tested our backups?
• Who has access to what—and why?

• Do our people know how to spot a phishing email?

If your answer is "I’m not sure," that’s your starting point.

But we can stop the next one from falling.

We can build systems that protect—not just data—but jobs, businesses, and lives.

That’s what cybersecurity is about.

That’s what we owe each other.

Let’s not wait for another obituary to realise that.

About the Author: Liam Smith

As Head of Cyber at TIEVA, Liam leads a team of cybersecurity experts to deliver innovative and scalable security solutions while shaping the company’s strategic vision. With a strong focus on risk management and continuous improvement, he helps businesses stay resilient against evolving cyber threats.