85.4 F
Washington D.C.
Friday, July 19, 2024

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

Okta is a lesser-known name but forms a critical part of cybersecurity systems at major corporations. The identity management company boasts more than 18,000 customers who use its products to provide a single login point.

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.

Homeland Security Today
Homeland Security Todayhttp://www.hstoday.us
The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

Related Articles

- Advertisement -

Latest Articles