23andMe bankruptcy: With Americas DNA put on sale, market panic gets a new form of testing
Summary
Then, as the market for consumer sale of the popular DNA test kits reached saturation sooner than many expected, 23andMe focused more on research and development partnerships with drug companies as a way to diversify its revenue. But with the company now teetering in bankruptcy and privacy experts concerned about what happens to the millions of people with DNA samples stored, Brockhaus says the whole thing has "caused a bit of a ruckus in my family." "Cybercriminals can use it to target consumers with convincing scams and social engineering tactics, such as fraudulently claiming someone is a blood relative to another person or to send deceptive messages about their potential health risks," Clay said. Meredith Schnur, a managing director and cybersecurity leader at insurance company Marsh, thinks the risk from 23andMes bankruptcy for people who sent in their swabs is relatively low. "Without continued consumer-focused product development, and without governance, 23andMe lost its way, and society missed a key opportunity in furthering the idea of personalized health," Avey wrote in a social media post.