{"id":42361,"date":"2023-10-25T05:23:29","date_gmt":"2023-10-25T09:23:29","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=42361"},"modified":"2023-10-27T10:10:49","modified_gmt":"2023-10-27T14:10:49","slug":"okta-loses-2b-in-market-value-after-support-systems-breach","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/okta-loses-2b-in-market-value-after-support-systems-breach\/","title":{"rendered":"Okta loses $2B in market value after support systems breach"},"content":{"rendered":"<p data-ar-index=\"1\">Okta, a cybersecurity firm that provides identity management services has lost more than $2 billion in market value since disclosing a hack of its support systems.<\/p>\n<p data-ar-index=\"2\">Okta&#8217;s products are used by more than 18,000 customers, including major corporations like Zoom, Google, and VMware. The company provides a single login point for many different platforms, making it a critical part of cybersecurity systems for many businesses.<\/p>\n<p data-ar-index=\"3\">Okta announced that an unidentified hacking group was able to access client files through a support system. The company did not provide more details, but the news sent its stock price plunging more than 11%. The shares continued to fall, closing down 8.1%.<\/p>\n<p data-ar-index=\"4\">BeyondTrust, a privately held identity management provider, also stated that on October 2, it informed Okta&#8217;s security personnel of suspicious activities in BeyondTrust&#8217;s own Okta systems. After BeyondTrust contacted the firm, Okta did not initially acknowledge the incident as a breach.<\/p>\n<p data-ar-index=\"5\">Okta has also been at the center of other high-profile incidents in recent months, including hacks at casino giants Caesars and MGM.<\/p>\n<p data-ar-index=\"6\">The sources for this piece include an article in <a href=\"https:\/\/www.cnbc.com\/2023\/10\/23\/okta-hack-wipes-out-more-than-2-billion-in-market-cap.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Okta, a cybersecurity firm that provides identity management services has lost more than $2 billion in market value since disclosing a hack of its support systems. Okta&#8217;s products are used by more than 18,000 customers, including major corporations like Zoom, Google, and VMware. The company provides a single login point for many different platforms, making [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[99,388],"class_list":["post-42361","post","type-post","status-publish","format-standard","hentry","category-todays-news","tag-okta","tag-privacy-security"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/42361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=42361"}],"version-history":[{"count":2,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/42361\/revisions"}],"predecessor-version":[{"id":42363,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/42361\/revisions\/42363"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=42361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=42361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=42361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}