Hackers plunders millions from Pinduoduo

Business | 21 Jan 2019 9:32 am

Hackers exploited a loophole on Pinduoduo’s platform, stealing vouchers worth tens of millions of yuan yesterday morning.

The group-buying platform has fixed the system bug and is tracking the source of the purchases. The company has reported the case to the police, according to a statement on its official Weibo account, CGTN reports.

Pinduoduo was formed in 2015. The fast growing e-commerce platform allows consumers to group together to increase the discounts offered by merchants. The company filed for an initial public offering on Nasdaq last July and is now valued at US$ 27 billion.

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