Pinduoduo in China: theft of coupons online to the police

BEIJING (Reuters) – Pinduoduo Inc., Chinese group online said Sunday that an online collective had operated a loophole on its platform to "steal" tens of millions of yuan worth of coupons.

In a statement on his official Weibo account, Pinduoduo said that he had immediately corrected the problem and reported the incident to the police.

The strong growth of the Nasdaq-listed online marketplace allows consumers to come together for better discounts from merchants selling products as diverse as clothes, kitchenware and gadgets.

(Report by Philip Wen and Pei Li, edited by Michael Perry)