Okta shares slumped more than 11 per cent on Friday after the company said an unidentified hacking group could 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 yesterday, closing 8.1 per cent down.

Okta is an identity management company and has 18,000 customers who use its products to provide a single login point for many different platforms that a given company uses.

Zoom uses Okta to give access through a single login to the company's Google Workspace, ServiceNow, VMware and Workday 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.

This is not Okta's first involvement with high-profile security incidents. For example, casino giants Caesars and MGM were affected by hacks earlier this year. Caesars was forced to pay millions in ransom to the hacking group.

MGM had to shut down critical systems that the company acknowledged would have a material effect on its bottom line in an SEC filing.

The direct and indirect losses from those incidents totalled over $100 million. Both those attacks targeted MGM and Caesars' Okta installations, using a sophisticated social engineering attack that went through IT help desks. The hacking group targeted three other companies.

A hacking group purportedly accessed numerous Okta systems in a March attempt. According to a report from the Cybersecurity and Infrastructure Security Agency, that group, Lapsus$, has been tied to hacking attacks at Uber and Grand Theft Auto maker Rockstar Games, a subsidiary of Take-Two Interactive.