Cyanogenmod Updater crashes when using Nightly builts

In case you are trying to update Cyanogenmod the a current Nightly built (e.g. Nightly Cm-11-20150201) chances are that the CM updater crashes before even rebooting to the actual updating process. This problem has been confirmed by PsychoI3oy on the CM forum: Yeah, we’ve been getting a lot of crashes...