The impact of what’s being called the most spectacular IT failure the world has ever seen is expected to take at least several days to tally.
Already a subscriber?In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings crashed countless Microsoft Windows computer systems globally.
Recently hackers have exploited this phenomenon, targeting vendors to bring down entire sectors and governments.“This is unprecedented,” said Alan Woodward, professor of cybersecurity at Surrey University. “The economic impact is going to be huge.” More than 2000 flights across the US were cancelled and at least 7000 were delayed as of early afternoon on Friday , according to FlightAware, a company that tracks flight information.Airports serving New York City, Chicago and Atlanta, which are major hubs to big airlines, were among the hardest hit.FedEx said it faced substantial disruptions throughout its networks, while peer United Parcel Service also warned of potential delivery delays.
The ASX said in a statement published on its website at 3.41pm that it was aware some market participants were having connectivity issues but that “all ASX services remain operational and are working as expected”. Triple-zero emergency services lines were not affected, officials said. “It appears this issue is going to have serious global ramifications and I foresee a lot of weekend work ahead for IT teams,” Mr Sedgwick said., Scott Jarkoff, the former director of threat intelligence for the Asia-Pacific for CrowdStrike until June 2024, said the problem was almost certainly related to a “bad sensor” update. He said it was likely affecting some users at different workplaces depending on whether they updated systems manually or automatically.
A spokesman for Bendigo and Adelaide Bank said the global IT issues had affected its online banking services and some transactions. “This largely makes sense, a security vendor’s focus is always on securing their customers, but it does mean we give security vendors deep access into systems with the goal of protecting them. If there are any mistakes on the vendor’s side we end up with the fallout we’re seeing today.”Air travel also was disrupted across Europe and the UK. In addition, UK trains also were hit.
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