23andMe Reveals Hackers Accessed Ancestry Data Of 'Significant Number' Of Users (UPDATED)
Portfolio Pulse from Benzinga Neuro
23andMe Holding Co. (NASDAQ:ME) experienced a security breach where hackers accessed approximately 14,000 customer accounts, which is about 0.1% of its customer base. The breach involved 'credential stuffing' to obtain user data, including ancestry and health-related data. The company has since enforced password resets and multi-factor authentication for all users. The extent of the data breach and the number of files related to ancestry profiles accessed are still undisclosed.
December 02, 2023 | 7:18 am
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NEGATIVE IMPACT
23andMe's recent security breach may negatively impact investor confidence due to concerns over privacy and data security, potentially affecting the stock price in the short term.
The breach of customer data is a significant event that can lead to a loss of customer trust and potential legal and regulatory repercussions. While the company has taken steps to mitigate the issue, the short-term impact on the stock could be negative as the market reacts to the breach and potential fallout.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100