How Much Economic Loss Did CrowdStike Cost the World?

If you had difficulty turning on your computer on July 19, 2024, you are not alone. Millions of computers around the world It became inoperable due to this unexpected error.

But this event It is not just a technical malfunction, There is a complex software bug that has caused billions of dollars in economic losses and major operational disruptions around the world.

On July 19, 2024, millions of Windows computers around the world suddenly stopped working.

At first, this situation was It was thought to be a cyber attack. However, it soon became clear that the problem was actually caused by an update from the cybersecurity company CrowdStrike.

CrowdStrike’s software called Falcon Almost half of Fortune 500 companies installed on their computers. Therefore, airports, banks, hospitals and many businesses were affected by this error.

CrowdStrike Falcon software is a security software that works at the kernel level of computers.

This software can detect and block malware before it infects. However, an error occurred during the update on July 19. Oops, computers Because it works at the kernel level It resulted in machines failing to start up and constantly rebooting.

Update, a Bad code in .sys file occurred due to. The file consisted almost entirely of zeros, causing errors when computers tried to access it.

The economic effects of this event were quite large.

Flights were canceled at airports, banks could not provide service, Devices needed for emergencies in hospitals did not work and many businesses were forced to cease operations. People missed their flights, couldn’t access their money, and couldn’t get medical care.

Error estimated worldwide affected 8.5 million computers and each of these computers became unusable until they were manually fixed.

According to a report by Parametrix, a quarter of Fortune 500 companies were affected by these outages, and each company He lost $43.6 million.

Among the sectors most affected by these cuts are airline, healthcare and banking is available. The healthcare sector, in particular, took the biggest hit, with a loss of approximately $1.9 billion.

Airline companies lost 860 million dollars.

Parametrix, total insured losses among Fortune 500 companies $540 million to $1.08 billion He estimates that it is between . Considering that CrowdStrike works with 298 of the Fortune 500 companies, the economic damage is astounding.

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