23andMe Files for Chapter 11 Bankruptcy Amid Data Concerns

23andMe, the renowned genetic testing company, has filed for Chapter 11 bankruptcy protection, marking a significant downturn for the firm amid rising concerns over data privacy and security. The filing, reported across multiple financial news outlets, comes as a shock to many, given the company's previous popularity in the consumer genetics market.

The decision to file for bankruptcy follows a series of data breaches and subsequent warnings from the California Attorney General, Rob Bonta. Bonta issued an urgent consumer alert, advising 23andMe customers to delete their data from the company's servers due to potential security risks. This move was spurred by recent incidents where hackers accessed the genetic and personal information of millions of users, raising serious questions about the safety of storing such sensitive data.

The fallout from these breaches has not only affected 23andMe's reputation but also led to a significant drop in consumer trust. Many users, as reported by MarketWatch, have expressed reluctance to use any DNA testing services, fearing further invasions of privacy similar to those experienced with social media platforms like Facebook. As 23andMe navigates through bankruptcy, the focus now shifts to how it will manage its data and rebuild trust with its user base.

• 23andMe
• California
• Chapter 11
• Rob Bonta

Detailed 23andMe's bankruptcy filing

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23andMe files for bankruptcy, Anne Wojcicki steps down as CEO

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Related issues news

What is 23 and me?

After you provide a saliva sample, 23andMe uses genotyping to analyze your DNA. This means we look at specific locations in your genome that are known to differ between people. We then turn those results into personalized genetic reports on everything from ancestry composition to traits to genetic health risks.

How can I delete my 23andme data?

Clicking “View,” then “23andMe Data” Choosing the “Permanently Delete Data” selection.

Is 23andMe bankrupt?

March 24 (Reuters) - 23andMe (ME.O) , opens new tab on Sunday filed for bankruptcy in the U.S. after struggling with the fallout of a data breach and weak demand for its ancestry testing kits that featured in Oprah Winfrey's annual list of favorite things just eight years ago.

Why delete 23andme data?

23andMe users are being advised to delete their data as the company files for bankruptcy. The California Attorney General issued a consumer alert urging users of the biotech company to consider asking the company to delete their data and destroy any samples of genetic material.