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What is CrowdStrike (CRWD), and how did it cause global IT outages? [Video]

What is CrowdStrike and what does it do?

CrowdStrike is a cybersecurity vendor that develops software to help companies detect and block hacks. It is used by many of the world’s Fortune 500 companies, including major global banks, health-care and energy companies.

What happened on Friday?

A fix has been issued

Earlier, Microsoft said its cloud services had been restored after an outage that affected its Azure services and Microsoft 365 suite of apps in the central U.S. region. A company spokesperson said these are two different and nonrelated issues — one issue relates to Azure, the other is linked to CrowdStrike.

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