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CrowdStrike cybersecurity firm faces major setback after ...
2024-07-24 14:59:08
Technology
Stocks

CrowdStrike cybersecurity firm faces major setback after software update failure

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CrowdStrike, a cybersecurity firm, experienced a major software update failure that caused widespread IT outages globally, impacting key industries. The incident led to significant stock price decline, customer backlash, and calls for CrowdStrike's CEO to testify.

Rival cybersecurity firms SentinelOne and Wiz saw stock gains and acquisition interest. CrowdStrike's Chief Security Officer expressed deep remorse over the failure.

The quality assurance bug crashed Windows systems globally, affecting over 8.5 million users. CrowdStrike plans canary deployments to prevent future incidents, but concerns remain about tech firms' control of critical infrastructure.

Experts noted that the process to fix affected systems will take time. CrowdStrike will improve its testing procedures to prevent future incidents.

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Federal Probe Initiated After Delta Air Lines Faces Massive ... Flight Cancellations

The investigation into Delta Air Lines aims to uphold passenger rights amidst disruptions. The incident underscores the airline industry's reliance on technology and the necessity for robust contingency plans. Delta's reduced flight cancellations on Wednesday contrast with previous chaos. The U.S. Transportation Department examines Delta's customer service and compliance with regulations. Concerns from Representative Rick Larsen and Senate Commerce Committee chair Maria Cantwell reflect the severity of the situation. Families faced challenges as Delta banned minors from flying alone post-outage. Unclaimed luggage piles at major airports echo chaos from the recent travel surge. The secretary of transportation's investigation follows Delta's staggering flight cancellations.

CrowdStrike IT Outage: Global Impact and Lessons Learned

A software glitch at Crowdstrike caused worldwide disruptions, affecting computers, airlines, hospitals, media outlets, and financial services globally. The CEO of Crowdstrike confirmed that it was not a security incident or cyberattack. The incident impacted less than 1% of Windows machines but had broad economic and societal impacts, potentially exceeding $1 billion in costs. CrowdStrike's stock tumbled as analysts adjusted their price targets and ratings. The outage created an opportunity for competitive displacements as CIOs and companies re-evaluate their cybersecurity solutions. Delta Airlines canceled over 5,000 flights due to the IT outage, causing significant challenges in rebooking passengers during peak summer season. The incident also highlighted the need for better quality assurance and security practices in the industry, including the use of secure programming languages like Rust. Administrators should consider storing Bitlocker recovery keys securely and have contingency plans in place to respond to large-scale IT outages.

Read 18 more recent news on this topic

The press radar on this topic:

Yahoo News
23. Juli 2024 um 12:38

CrowdStrike CSO blasts own failure as stock plummets: ‘The confidence we built in drips over the years was lost in buckets within hours, and it was a gut punch’

Technology
Economy
Finance
CrowdStrike, a cybersecurity firm, experienced a major software update failure that caused widespread IT outages globally, impacting key industries. The incident led to significant stock price decline, customer backlash, and calls for CrowdStrike's CEO to testify. Microsoft estimated the impact, while rival cybersecurity firms SentinelOne and Wiz saw stock gains and acquisition interest. Deutsche Bank analysts were unable to publish a research note on CrowdStrike due to the outage. CrowdStrike's..
The Verge
24. Juli 2024 um 09:33

CrowdStrike blames test software for taking down 8.5 million Windows machines

Technology
To prevent future incidents, CrowdStrike will improve its Rapid Response Content testing by using local developer testing, content update and rollback testing, stability testing, and content interface testing, in addition to the existing automated and manual testing and the enhancements to the cloud-based Content Validator and staggered deployment.
Yahoo Finance
24. Juli 2024 um 10:16

Forget CrowdStrike: 3 Cybersecurity Stocks to Buy Instead

Finance
Technology
Economy
CrowdStrike, a cloud-native cybersecurity firm, faces setbacks after a software update caused global outages. Consider Zscaler, a cloud-native zero-trust provider with strong financials, SentinelOne's AI-powered XDR platform, and Palo Alto Networks, a diversified cybersecurity giant with 35% revenue CAGR, 80,000+ enterprise customers, expected 16% revenue CAGR, and 49% GAAP EPS CAGR.
heise online
24. Juli 2024 um 10:33

Global IT Outage: BSI Holds Crowdstrike and Microsoft Accountable | heise online

Technology
Politics
BSI demands improvements from Crowdstrike and Microsoft after global IT outage caused by faulty software; over 50 operators of critical infrastructures reported to BSI; 8.5 million Windows computers and almost every critical industry affected; Crowdstrike announces first measures; findings relevant for Cyber Resilience Act.
heise online
24. Juli 2024 um 10:33

Globaler IT-Ausfall: BSI nimmt Crowdstrike und Microsoft in die Pflicht | heise online

Technologie
Politik
BSI fordert Verbesserungen von Crowdstrike und Microsoft nach globalem IT-Ausfall durch fehlerhafte Software; über 50 Betreiber Kritischer Infrastrukturen meldeten sich beim BSI; 8,5 Millionen Windows-Rechner und fast jede kritische Branche betroffen; Crowdstrike kündigt erste Maßnahmen an; Erkenntnisse für Cyber Resilience Act relevant.
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