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CrowdStrike global outage to cost US Fortune 500 companies $5.4B
Banking and healthcare firms, major airlines expected to suffer most losses, according to insurer Parametrix
The global technology outage sparked by CrowdStrike’s faulty update will cost US Fortune 500 companies $5.4bn, insurers estimated, as the cybersecurity firm vowed to make changes to prevent it from happening again. The primary cause of the failure stemmed from an update that CrowdStrike pushed to its flagship Falcon platform, which functions as a cloud-based service intended to protect businesses from cyber-attacks and disruptions. Delta Air Lines is still in turmoil days later as it cancels and reschedules hundreds of flights, leaving frustrated passengers without the ability to get home and parents scrambling to reach their stranded children.
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