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Microsoft to hold cybersecurity summit following IT outage caused by CrowdStrike

Microsoft to hold cybersecurity summit following IT outage caused by CrowdStrike

Microsoft announced on Friday that it will host a cybersecurity summit in September to discuss measures to strengthen security systems following a global IT outage last month caused by a faulty CrowdStrike update. The conference, set for September 10 at Microsoft’s Redmond, Washington headquarters, will be the company’s first major step to address the outage, which impacted nearly 8.5 million Windows devices on July 19, affecting industries such as airlines, banking, and healthcare.

Government officials will be invited to the event, according to Microsoft’s blog post. The company stated that the July CrowdStrike outage provided valuable lessons for the cybersecurity ecosystem. The incident raised concerns about the preparedness of many organizations when a critical IT system or software fails.

CrowdStrike expressed its eagerness to engage in the discussions with Microsoft and other stakeholders to promote a more resilient cybersecurity environment. Analysts have noted that the outage highlighted the risks of relying on a single vendor for security solutions.

Since the incident, CrowdStrike has lost approximately $9 billion in market value and is facing lawsuits from shareholders accusing the company of hiding vulnerabilities in its software testing. Delta Air Lines recently revealed it is pursuing legal claims against both CrowdStrike and Microsoft, blaming the outage for mass flight cancellations and at least $500 million in losses.

CrowdStrike will report its second-quarter earnings on August 28.


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