Theranos (blood-testing company scandal)

Theranos was a healthcare technology company founded by Elizabeth Holmes, claiming to revolutionize blood testing with a device that required only a few drops of blood. However, it was eventually exposed as a fraud after investigations revealed the technology didn’t work as promised. The company misled investors, regulators, and patients about its capabilities, often using traditional lab methods secretly. Holmes and former executives faced criminal charges for fraud. The scandal highlighted issues in startup hype, unrealistic promises, and regulatory oversight, emphasizing the importance of transparency and verification in medical innovations.