Okta Cybersecurity Breach Wipes out More than $2 billion in Market Capital

Okta has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems Friday. The high-profile incident is the latest in a string of incidents that have been tied to Okta or its products, including a spate of intrusions at casinos that crippled Las Vegas hotel rooms for days.

Okta shares slumped more than 11% Friday after the company said an unidentified hacking group was able to access client files through a support system. The company did not provide more details beyond a set of technical identifiers.

The company’s stock continued to fall in Monday trading, ultimately closing down 8.1%.

Read the rest of the story from CNBC here.

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