Why Are Okta Shares Trading Lower Today

Why Are Okta Shares Trading Lower Today
  • Authentication services company Okta Inc OKTA investigated a digital hack, Reuters reports.
  • The ransom-seeking hackers known as LAPSUS$ had posted screenshots on their Telegram channel, claiming them as Okta's internal company environment.
  • Thousands of other companies rely on Okta to manage access to their networks and applications.
  • LAPSUS$ also claimed to have leaked the source code for Bing, Cortana, and other projects from Microsoft Corp's MSFT internal Azure DevOps server, Bleeping Computer reports.
  • The projects appear to be for web-based infrastructure, websites, or mobile apps, released with no source code for Microsoft desktop software, including Windows, Windows Server, and Microsoft Office.
  • LAPSUS$ said it contained 90% of the source code for Bing and 45% of the code for Bing Maps and Cortana. Their uncompressed archive had 37GB of source code allegedly belonging to Microsoft.
  • LAPSUS$ has disclosed numerous cyberattacks against large companies, with confirmed attacks against NVIDIA Corp NVDASamsung Electronics Co Ltd SSNLFVodafone Group PLC VODUbisoft Entertainment UBSFY, and MercadoLibre Inc MELI.
  • Price Action: OKTA shares traded lower by 9.10% at $154.00 in pre-market on the last check Tuesday.

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