From Yahoo Finance: 2025-03-25 12:17:00

New York Attorney General Letitia James advised 23andMe customers to secure their data due to privacy concerns after the DNA testing firm filed for bankruptcy. Users rushed to delete accounts over fears of data misuse by a new owner. Shares of 23andMe plummeted 59% after filing for bankruptcy, closing at 65 cents.

23andMe’s website faced issues due to increased traffic, but these have been resolved. The company’s tests offer ancestry and disease risk information. With 30 undisclosed agreements with companies like GSK, 23andMe’s genetic database is a valuable asset. Cybersecurity experts warn of potential consequences if personal data is sold.

23andMe reassures customers that bankruptcy won’t impact data protection. Ownership changes won’t affect data storage under the current privacy policy, but legal clarity is lacking regarding consumer opt-out rights. Customers may seek legal protection of their genetic data, especially after a $30 million settlement over a previous data breach.

Withdrawal from 23andMe’s website may not fully protect data as the company sells its database to other firms. Laws need improvement to safeguard DNA information, as it is permanent and cannot be changed like financial data. California Attorney General Rob Bonta advised customers to delete genetic data, and users can change their preferences to withdraw consent for data storage and usage.



Read more at Yahoo Finance: Consumers urged to delete 23andMe data as bankruptcy sparks privacy fears