23andMe, the genetic testing company, filed for Chapter 11 bankruptcy, marking a significant decline from its 2021 valuation of $5.8 billion. CEO Anne Wojcicki's resignation followed ongoing financial struggles and attempts for buyouts. The bankruptcy proceedings aim to maximize business value, but customer confidence is shaken due to a recent hack exposing personal data of 7 million users, notably those with Ashkenazi Jewish ancestry. The breach highlighted the risks associated with genetic testing in terms of privacy and safety for clients, stirring fears about potential targeting of individuals based on their genetic information.
In late 2023, the company disclosed that hackers had gained access to the personal data of 7 million customers, including their genomes. This breach raised severe privacy concerns.
Though the hack did not only target Jewish customers, the proposed sale gave a grim example of what malicious denizens of net could do with 23andMe customers' information.
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