Updated at 9:47 AM EST
Okta Inc. (OCT) – Kritt Okta, Inc. Class A Report Shares fell on Tuesday after Tech Group, which manages network access for thousands of U.S. companies, began investigating reports of an illegal data breach.
Okta was alerted to the potential breach when hackers, allegedly representing a group called LAPSUS $, posted photos of what the San Francisco-based group claimed was their internal technology on the Telegram channel. CEO Todd McKinnon said the photos could be linked to an attempted hack in January that has since been contained.
“Based on our investigation so far, there is no evidence of further malicious activity related to the activity detected in January,” McKinnon said Tuesday on his verified Twitter account.
Octa shares were up 7.12% lower in early trading on Tuesday to change hands at $ 157.75 each.
The cybersecurity risk has intensified in recent days following comments from President Joe Biden warning of a potential attack by Russian hackers as a repeat of Western sanctions linked to their war against Ukraine.
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“The more Putin’s back against the wall, the greater the gravity of the tactics he can use. One of the tools he will use most in my view, in our view, is cyberattacks, “Biden told reporters in Washington on Monday. “The size of Russia’s cyber capacity is pretty consistent and it can.”
European officials meanwhile agreed on a political framework on Tuesday that would manage a cyberattack on EU institutions following calls earlier this month to manage an emergency fund for cyber risks.
This risk was highlighted by a broad app system failure reported by Apple yesterday (AAPL) – Get Apple Inc. Reportan otherwise rare disruption to the world’s largest technology company affecting both its corporate and retail operations, as well as app-related services such as music and podcasts.
The Apple Status page noted that the issue was resolved later Monday afternoon, with Bloomberg reporting that the outbreak was linked to a DNS, or domain name system error similar to those that triggered disruptions to Facebook and Instagram last year .
The Identity Theft Resource Center (ITRC) said earlier this year that 2021 was a record year for cyberattacks, with 1,862 verified data breaches, a 68% increase from 2020.
“There is no reason to believe that the level of data compromise will suddenly drop in 2022,” said Velasquez, said ITRC CEO Eva Velasquez.
Research by IBM (IBM) – Get International Business Machines Corporation Report and the Ponemon Institute suggests the average cost of a data breach for a U.S.-based firm is about $ 9.05 million.
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