In a recent turn of events, genetic testing and research company 23andMe disclosed on Tuesday that they had identified unauthorized third-party access to user-generated profile data, which had been shared through their DNA Relatives feature. Remarkably, despite this unsettling development, the company’s stock (NASDAQ: ME) exhibited remarkable resilience, demonstrating an impressive increase of 13.92%.
As per information disclosed in a regulatory filing, the cyber intrusion was attributed to customers employing the same usernames and passwords across multiple platforms, including those that had previously been compromised. Importantly, 23andMe has underlined that the security breach was not a result of any internal vulnerabilities or misuse of company-supplied credentials.
In response to the incident, 23andMe promptly engaged forensic experts to ascertain the full scope of the breach. Simultaneously, they have initiated measures to mitigate any potential fallout. While the financial ramifications of this breach are yet to be quantified, it is evident that the company is taking proactive steps to address the issue and fortify the security of customer data.
