Shares of Okta drop following statement from security firm revealing hack.

Shares of Okta drop following statement from security firm revealing hack.

On Friday, Okta, a leading provider of security technology for various entities such as businesses and government agencies, announced that one of its customer service tools had been compromised.

According to a filing with securities, Okta’s Chief Security Officer, David Bradbury, revealed that a hacker gained unauthorized access to the company’s support case management system using stolen login information. The hacker was able to view files uploaded by certain customers, but Okta clarified that this system is separate from their main client platform and was not breached.

Okta is utilized by major corporations such as FedEx, Hewlett Packard, and T-Mobile to safeguard their computer networks. Paramount, the company that owns CBS News, is also a client of Okta.

The Justice Department announced the dismantling of a worldwide hacking network at 02:14.

Okta has informed all impacted customers of the cyberattack and has provided them with internet protocol and other details to assist in identifying any potential system compromises resulting from the breach.

According to IBM, the average cost of a data breach in the United States has reached a new high this year, totaling almost $4.5 million. This represents an increase of over 15% from the previous year’s cost of $3.9 million.

Ransomware attacks

In recent years, there has been a significant increase in cybercrime, particularly against companies. This is due to the growing number of companies utilizing internet cloud services to store their data.

Alain Sherter