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Cyber Risk

China's Pinduoduo reports theft of online discount vouchers to police

The Pinduoduo logo is seen in this illustration photo taken July 17, 2018. REUTERS/Thomas White/Illustration

BEIJING (Reuters) - Chinese online group discounter Pinduoduo Inc PDD.O said on Sunday that an online collective exploited a loophole on its platform to "steal" tens of millions of yuan worth of discount vouchers.

In a statement on its official Weibo account, Pinduoduo said it immediately rectified the bug and reported the incident to police.

The fast-growing Nasdaq-listed online marketplace allows consumers to group together to get better discounts from merchants selling goods as varied as clothes, kitchenware and gadgets.

Reporting by Philip Wen and Pei Li; Editing by Michael Perry

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