Crowdstrike, the "culprit" that caused a global crash, CEO said the company has identified the update that caused the Windows system to crash globally, and has "deployed a fix program."
According to the Financial APPlification APP, CrowdStrike (CRWD.US), the 'culprit' behind the global outage, has identified the update that caused the global Windows system crash and 'deployed fixes.'
Affected by this news, as of the time of publication, CrowdStrike fell more than 12% in pre-market trading on Friday.
In a statement released on X on Friday, CEO George Kurtz stated: 'This is not a security event or a cyberattack. The issue has been found, isolated, and fixes deployed.'
CrowdStrike previously warned customers that its Falcon Sensor threat monitoring product caused Microsoft Windows operating system crashes. Meanwhile, Microsoft Azure cloud services also experienced interruptions, causing IT disruptions that caused global businesses to struggle. Currently, Microsoft says the root cause of the global outage has been resolved, but the residual effects of the cybersecurity interruption continue to impact certain Office 365 applications and services. Microsoft's pre-market decline has also narrowed to 1.3%.
On Friday, well-known multinational companies such as McDonald's, United Airlines, and the London Stock Exchange Group disclosed various issues with customer service communications. Royal Dutch Airlines said it would suspend most flights due to a global computer malfunction.
Competitors Benefit
After CrowdStrike's cybersecurity platform suffered a malfunction, its competitors rose in pre-market trading on Friday.
Palo Alto Networks (PANW.US) rose as much as 5%, with Fortinet (FTNT.US) rising about 3%, while Zscaler (ZS.US), Cloudflare (NET.US), and Cisco (CSCO.US) all saw pre-market gains.