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    HomeTechSoftware firm Okta's shares slump on cyber breach

    Software firm Okta's shares slump on cyber breach

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    (Reuters) – Okta on Friday announced a breach in its customer support system that resulted in certain hackers being able to access files uploaded by specific clients. As a result, the software company’s shares dropped by approximately 12%.

    “Okta security has discovered malicious activity that utilized stolen credentials to gain access to Okta’s support case management system,” stated Chief Security Officer David Bradbury in a blog post.

    The identities of the affected customers were not disclosed, nor was the nature of the compromised data specified.

    It is important to note that the support case management system impacted by the breach is separate from the fully operational production Okta service.

    Based in San Francisco, Okta is a company that offers identity services such as single sign-on and multi-factor authentication for logging into online applications and websites. Their clients include OpenAI, which is supported by Microsoft.

    By the end of the trading day, Okta shares had fallen by 11.6% to reach $75.57.

    Reporting by Yuvraj Malik in Bengaluru; Editing by Sriraj Kalluvila

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