Okta (NASDAQ:OKTA) stock is slipping this morning following news of a 2022 breach at the authentication services provider.
Let’s go over all the details we know about the Okta data hack.
- First off is the fact that hacker group Lapsus$ is behind the data breach.
- The group posted screenshots of what appears to be the internal environment of Okta.
- Experts that have looked over the screenshots believe them to be authentic.
- However, Okta isn’t all that worried about it.
- According to the company, these appear to be connected to a hack that took place back in January.
- That saw hackers attempt to compromise a third-party engineer’s account.
- The authentication services provider says that the incident has already been contained.
- That means that the Lapsus$ is from an older hack that likely won’t affect the company’s customers.
- If the hack does turn out to be new, it could spell trouble for Okta’s customers.
- Lapsus$ has specifically mentioned that this is the target with its ransom message.
- That makes sense considering Okra serves a wide variety of large companies.
- For example, some of them include FedEx (NYSE:FDX) and T-Mobile (NASDAQ:TMUS).
- If Lapsus$ has managed a new Okta 2022 data breach, then the company doesn’t know the full scope of the attack.
- But yet again, the company says it hasn’t detected any ongoing malicious activity since the hack in January.
- Even so, heavy trading has OKTA stock down today.
- As of this writing, more than 2.3 million shares of the company’s stock have changed hands.
- That’s already above its daily average trading volume of 2.1 million shares.
OKTA stock is down 6.5% as of Tuesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.