‘Bitcoin Protects Hashing’ Amid Global CrowdStrike Outages: Mining CEO

As the world continues to grapple with computer outages caused by a botched software update deployed by global cyber security firm CrowdStrike, it's business as usual for Bitcoin due to its decentralized nature and independence from centralized providers and infrastructure.

On Thursday night, CrowdStrike sent the tech world reeling as countless systems that relied on its security tools for Microsoft-based systems went offline. Major systems including government offices, banks and airlines crashed as computer screens displayed the dreaded blue screen of death.

In an update posted on Friday, CrowdStrike said it was actively working with customers affected by a “flaw discovered in a content update for Windows hosts.” “Mac and Linux hosts are not affected. This is not a security incident or cyber attack. The issue is identified, identified and a fix is ​​deployed.

“We know that adversaries and bad actors will try to exploit events like this,” CrowdStrike CEO George Kurtz said in a letter to customers and partners. “I'd like to make sure everyone stays alert and is in contact with the official CrowdStrike representatives,” he said.

However, Bitcoin was safe because it did not rely on Microsoft software, said Taras Kulik, founder and CEO of SunnySide Digital.

“If you look at the Bitcoin hash rate chart, [Bitcoin] It's completely unaffected because most, if not all, Bitcoin miners are using Linux-based frameworks,” Kulik told Decrypt in an interview. “It's funny because banks are shutting down globally because of this server problem, but Bitcoin hashing continues, and I hate to use the term, but ‘Tick Tock, Next Block'.”

Launched in 2021, SunnySide Digital is a wholesaler of hardware and services and digital mining hardware and infrastructure.

“It's really about infrastructure. [the blockchains] Depend,” Kulick said. “If it needs something like .NET Frameworks, obviously, it's Microsoft. With Linux-based hardware more likely to be used in software systems for networking, you know that this type of server shutdown is basically preventable.

For Kulick, the difference between using a Microsoft or Linux system comes down to strong privacy rights, decentralization, and the principles of individual empowerment.

“What a lot of people forget is that Bitcoin miners are typically people who don't like the existing system, the big corporate players,” Kulick said. “Linux open source is preferred. [Windows], seeing everything you do on the hardware you control. Ubuntu is the operating system for most miners when it comes to people you know, sign up to the cypherpunks ethos from long ago.

CrowdStrike declined comment from Decrypt.

As CrowdStrike rolls back the update, bug reruns are hitting hard. CrowdStrike ( CRWD ) shares, meanwhile, fell 11.10 percent, Yahoo Finance reported.

The blockchain industry as a whole appeared unaffected by the crash, with the cryptocurrency market up 4.6% on the day, and Bitcoin(BTC) is currently trading at $67,224, CoinGecko reports.

“Nothing is more important to me than the trust and confidence our customers and partners have placed in CrowdStrike,” said Kurtz. “As we resolve this incident, I am committed to providing full transparency on how this happened and the steps we are taking to prevent anything like this from happening again.”

Edited by Ryan Ozawa.