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Okta cybersecurity breach wipes out more than $2 billion in market cap (www.cnbc.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Okta cybersecurity breach wipes out more than $2 billion in market cap::Okta shares continued their fall Monday after the company said client files had been accessed by an unknown hacker, the latest attempt involving the company.

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[–] [email protected] 53 points 1 year ago* (last edited 1 year ago) (2 children)

headline gives the picture that they broke in and stole money or something. It's not the breach that wiped out the market cap, it's their poor cybersecurity practices that did it. The breach just showed people that there are existing problems with the company

after the company said client files had been accessed by an unknown hacker, the latest attempt involving the company

... latest attempt?

[–] [email protected] 21 points 1 year ago

Yeah, it’s like all the time with these guys. Their salespeople call me and they’re like “we’ve never been hacked” and I forward these kind of links to them

[–] [email protected] 9 points 1 year ago* (last edited 1 year ago)

Large companies are targeted constantly. I'm sure the qualifier 'latest' was quite out of date by the time the article was published.