CrowdStrike outage causes $5.4B loss to Fortune 500 firms

Most affected sectors were airlines, healthcare, and banking, report reveals

By Emir Yildirim

ISTANBUL (AA) – The recent global technology outage triggered by cybersecurity firm CrowdStrike caused an estimated loss of $5.4 billion to Fortune 500 companies, according to a report by the insurance firm Parametrix released on Thursday.

The losses caused by the disruption, excluding Microsoft, affected 25% of Fortune 500 companies, said Parametrix.

The most affected sectors were airlines, healthcare, and banking, the report showed, adding that the healthcare industry suffered the highest loss.

The report revealed that industries relying on computers on-site instead of cloud solutions suffered the most.

On July 19, an automated faulty update to the CrowdStrike’s AI-powered endpoint detection and response (EDR) software “Falcon” caused a worldwide disruption.

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