23andMe Bankruptcy Sparks Data Privacy Concerns
New York Attorney General Letitia James has urged 23andMe users to take steps to protect their data after the DNA testing company filed for bankruptcy, raising alarm over the future handling of millions of genetic records.
Shares of 23andMe plummeted after the bankruptcy filing, closing 11% lower on Tuesday, following a steep 59% drop on Monday.
Public concern intensified after 6.9 million users had their personal data exposed in a 2023 cyberattack. Although a $30 million settlement was proposed, it has not yet been fully approved by a U.S. District Court.
While 23andMe claims the bankruptcy process won’t affect how it stores or manages data, many users are deleting their accounts and calling for transparency on how data would be handled under new ownership.
Officials stress that consumers should remain vigilant, especially given the sensitive nature of genetic information.
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