This Global Outage Could Cost CrowdStrike $16 Billion, A Fifth Of Its Value

Shares of cybersecurity firm CrowdStrike, linked to the global Microsoft outage, plummeted by a fifth in US trading, down 21% in unofficial trading. This sharp decline has slashed nearly $16 billion off CrowdStrike's valuation following its involvement in a massive IT outage affecting companies and airports worldwide.

Oleg Gorokhovsky, founder of the Ukrainian online bank Monobank, attributed the outage to a conflict between CrowdStrike's antivirus software and Microsoft's Windows operating system. CrowdStrike CEO George Kurtz stated that the company is "actively working with customers impacted by a defect found in a single content update for Windows hosts."

Kurtz emphasized that "Mac and Linux hosts are not affected. This is neither a security incident nor a cyberattack. The issue has been identified, isolated, and a fix has been deployed. We direct customers to our support portal for the latest updates and will continue to provide comprehensive and continuous information on our website."

In response, Microsoft acknowledged the glitch, attributing it to a third-party software update and promising a forthcoming resolution. The company commented, "We are aware of an issue affecting Windows devices due to an update from a third-party software platform. We expect a resolution is forthcoming."