The global problems caused by that controversial cybersecurity technology company (CrowdStrike, based in Austin, Texas, with ties to Ukraine) fortunately didn’t affect users of MacOS or Linux, or users of older Windows systems, as Southwest Airlines can attest.
For Our Clients
We just want to remind our clients and prospective clients that our main system used at the firm is a Linux OS distribution, which provides better security protection versus that of a Microsoft-based OS. Moreover, we don’t rely on CrowdStrike for “protection.”
This is important for service providers like us to be sure our systems are safe and secure, given we work with confidential information related to our clients. Of course, Linux isn’t full-proof because there are bad actors that try to install back-doors into the OS, but since it is open source, there are a lot more eyes watching and threats can often be detected before they become a widespread problem or security breach. Just this year, for instance, a shady character attempted to install some back-doors into a Linux package, but the perpetrator, Jia Tan, got caught by Andres Freund, a Microsoft principal software engineer!
Actually, we wouldn’t be surprised if CrowdStrike, itself, has some back-doors installed in its closed-source software. Regardless, Elon Musk is very concerned, and had deleted CrowdStrike software from all of his companies’ systems.
CrowdStrike Stock Chart
CrowdStrike (Nasdaq: CRWD)’s stock price is down more than 20% since Friday (19 July).
Even though a lot of analysts are still positive on the company over the medium and long term, in the short term there’s concern.
Dan Ives, a technology analyst at Wedbush Securities, wrote in a note seen by Business Insider that it’s “clearly a major black eye” for cybersecurity firm CrowdStrike. Ives said the company would have to “go into next gear over the coming weeks and months to curtail some damage from this.”
As for us, we wouldn’t want to be long CrowdStrike right now without being properly hedged. There’s a long way down for this one!
Closing Words
Given the history and track record of CrowdStrike, do you believe it’s a safe and secure piece of software to use for cybersecurity? If you continue to use it and then experience a security breach that affects your clients, do you think you can be held liable for said breach?
Let us know your thoughts.
