Okta shares continued to slump on Monday, closing down more than 8% after the company disclosed that an unidentified hacking group had accessed client files through a support system.
More than $2 billion in market cap has been wiped out since the company acknowledged the hack on Friday. Okta makes identity-management solutions and is a high-profile target for hackers, which have penetrated Okta's customers in a spate of material hacks.The Okta Inc. website on a laptop computer arranged in Dobbs Ferry, New York, U.S., on Sunday, Feb. 28, 2021.has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems on Friday.
The direct and indirect losses from those incidents total over $100 million. Both those attacks targeted MGM and Caesar's, using a sophisticated social engineering attack that went through IT help desks. Three other companies were also targeted by the hacking group, an Okta executive Okta has also been a target before. A hacking group purportedly accessed a number of Okta systems in a March attempt. That group, Lapsus$, has been tied to hacking attacks at
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