Update 1:45 p.m. PT: Adobe told Ars Technica that the company is “stopping the distribution of the update until the issue has been resolved.”
If you are an Adobe Creative Cloud user, it’s possible that the most recent CC update can prevent processes like online backups from working properly.
According to Backblaze [hat tip to Andy Baio], the CC update (version 126.96.36.199) looks for the first hidden folder (based on alphabetical order) at the root of the Mac’s drive and removes the contents of that folder. For Backblaze users, a .bzvol hidden folder is created, and chances are it tops the list alphabetically.
Even if you are not a Backblaze customer, the CC update will delete the contents of the first hidden folder it finds alphabetically. [Update: @YevP of Blackblaze points out that folders with a space at the beginning of its name are also susceptible to the Adobe CC bug.] That could cause issues with your Mac and its apps. If you think you have encountered this problem, you can try using a backup to restore the hidden folder.
Backblaze users can execute a Terminal command if they are an Adobe CC user but have yet to install the latest update. Blackblaze also provides instructions on how to fix the problem if the .bzvol folder has been wiped.
According to a tweet by Adobe Customer Care, the company is working on a fix.