CrowdStrike: This cybersecurity company is to blame for the global disaster | Money

The good news: It is not a hacker attack that has paralyzed airports, TV stations and emergency calls around the world. But the trail leads to a company that actually specializes in preventing exactly such breakdowns. The cybersecurity company CrowdStrike (based in Austin, Texas) has already confirmed that problems with an update led to the IT crash.

The company says it has fault has been correctedwhich allegedly led to computer malfunctions. Customers are now being referred to a download portal for a new update, wrote company boss George Kurtz on the online platform X.

Experts had previously assumed that a faulty program update at CrowdStrike had also disrupted software in other companies, such as Microsoft.

A CrowdStrike spokesperson then told the US broadcaster CNBC that the update would be rolled back. A few hours after the first outages, there were initial signs that the situation was returning to normal.

What does CrowdStrike specialize in?

The company plays a central role in protecting against IT threats and secures websites, among other things. One of its products, called Falcon, is designed to detect malicious activities in data traffic. According to media reports, a faulty Falcon update may have caused the disruptions.

Expert on the IT disasterThis is how much money holidaymakers get back

Why did the update cause problems for so many companies around the world? One reason is the concentration in the tech industry. A service provider often serves thousands of companies. Problems with such providers then have a broad impact. In the past, errors by IT security companies have paralyzed dozens of websites at once.

CrowdStrike shares plummet, expert expects wave of lawsuits

CrowdStrike investors immediately felt the consequences of the IT glitch. The share price fell by around 15 percent on the Frankfurt Stock Exchange on Friday morning compared to the previous day.

Experts are expecting a wave of lawsuits, particularly in the USA. Oliver Roth (56), chief trader at Oddo BHF-Bank, told BILD: “The damage caused worldwide could hit the company with a wave of lawsuits worth billions, especially in the USA. The reinsurers in particular, who have to pay for the losses incurred, are being punished. There is no end in sight to this.” However, Roth advises investors to remain calm. “It will calm down again quickly.”

Follow the current situation here in the BILD live ticker!