Okta CEO on MGM breach: Companies are under ‘massive attack from cybercriminals’

Todd McKinnon, CEO of Okta, told CNBC's Jim Cramer that all companies are under significant attack from cybercriminals.
MGM Resorts, an Okta client, faced a major cybersecurity incident that significantly disrupted the company's properties across the country.
McKinnon stated that the Okta system and products are not breached.

Okta CEO Todd McKinnon told CNBC's Jim Cramer on Friday that all companies are under attack from cybercriminals. Okta provides identity management software for corporations, and earlier in the week, one of its clients, MGM Resorts, faced a major cybersecurity incident that significantly disrupted the company's properties across the country.

McKinnon explained he would not comment publicly on the ongoing issue, but said the company is working with MGM. He also affirmed that Okta's system and products are secure and have not been breached.

"Okta customer or not," he said, "they're all under massive attack from cybercriminals. The amount that cybercriminals can gain from attacking companies and organizations and governments is super high. So, everyone is under attack."

We're making it easier for you to find stories that matter with our new newsletter — The 4Front. Sign up here and get news that is important for you to your inbox.

McKinnon said the security industry as a whole can best fight cybercriminals by working together. He added that every organization has sensitive data, and while digitization and automation have been great for business and growth, they have created risk.

"The bad guys are coming at every weakness, and we're only as strong as an industry as our weakest link. So one of the things that we pride ourselves at Okta is working very closely, collaborating with everyone in the ecosystem," he said.