Crowdstrike may lose $16 billion- a fifth of its value- amid global IT outage

Shares of cybersecurity firm Crowdstrike- which is behind global Microsoft outage- lost a fifth of its value in trading in the US and was down 21% in unofficial trading. This would result in a loss of almost $16 billion in Crowdstrike’s valuation after the company was involved in a massive IT outage hitting companies and airports worldwide.

According to Oleg Gorokhovsky, founder of the Ukrainian online bank Monobank, the outage resulted from “an interaction between the CrowdStrike antivirus” software and the Windows operating system of Microsoft. Crowdstrike CEO George Kurtz said that the company “is actively working with customers impacted by a defect found in a single content update for Windows hosts.”