How your sensitive data can be sold after a data broker goes bankrupt
news.movim.eu / ArsTechnica · Yesterday - 11:57
In 2021, a company specializing in collecting and selling location data called Near bragged that it was “The World’s Largest Dataset of People’s Behavior in the Real-World,” with data representing “1.6B people across 44 countries.” Last year the company went public with a valuation of $1 billion (via a SPAC ). Seven months later it filed for bankruptcy and has agreed to sell the company.
But for the “1.6B people” that Near said its data represents, the important question is: What happens to Near’s mountain of location data? Any company could gain access to it through purchasing the company’s assets.
The prospect of this data, including Near’s collection of location data from sensitive locations such as abortion clinics, being sold off in bankruptcy has raised alarms in Congress. Last week, Sen. Ron Wyden (D-Ore.) wrote the Federal Trade Commission (FTC) urging the agency to “protect consumers and investors from the outrageous conduct” of Near, citing his office’s investigation into the India-based company.