has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems Friday. The high-profile incident is the latest in a string of incidents that have been tied to Okta or its products, including a spate of intrusions at casinos that crippled Las Vegas hotel rooms for days.
Okta shares slumped more than 11% after the company an unidentified hacking group was able to access client files through a support system. The company did not provide more details beyond a set of technical identifiers.
The company's stock continued to fall in Monday trading, ultimately closing down 8.1%.
Okta is a lesser-known name but forms a critical part of cybersecurity systems at major corporations. The identity management company boasts more than 18,000 customers who use its products to provide a single login point for many different platforms that a given company uses. , , uses Okta to give "seamless" access through a single login to the company's Workspace, , and platforms.
Okta said it had communicated with all affected clients in Friday's announcement. At least one of those clients said it had alerted Okta about a potential breach weeks earlier.
In a Friday, privately held identity management firm BeyondTrust said it had told Okta's security teams about suspicious activity in BeyondTrust's own Okta systems on Oct. 2. Okta didn't initially acknowledge the incident as a breach after BeyondTrust alerted the company, despite what BeyondTrust described as concerns that "there was a high likelihood of compromise within Okta support and that we were likely not the only customer impacted."
Okta has also been at the center of other higher-profile incidents. Earlier this year, for example, casino giants and were both affected by hacks. Caesars was forced to to the hacking group, sources told CNBC. MGM had to that the company acknowledged would have a on its bottom line in .
The direct and indirect losses from those incidents totaled over $100 million. Both those attacks targeted MGM and Caesars' , using a sophisticated social engineering attack that went through IT help desks. Three other companies were also targeted by the hacking group, an Okta executive .
Okta has also been a target before. A hacking group purportedly accessed numerous Okta systems in a March attempt. That group, Lapsus$, has been tied to hacking attacks at and Rockstar Games, a subsidiary of , according to a report from the .
Okta did not immediately respond to CNBC's request for comment.
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