Pinduoduo suffers huge losses due to technical bug

Chinese e-commerce platform Pinduoduo suffered huge losses due to a technical bug Sunday morning, NetEase has reported.

Early Sunday morning, 100 yuan ($14.73) coupons valid for one year began to spread on the platform, with users able to claim as many as they wished.

The coupons spread due to technical bug on Pindioduo, according to NetEase.

Users were able to top up their phones by 100 yuan for the price of 0.4 yuan, with one netizen found to have topped up hundreds of times.

The bug is estimated to have cost Pinduoduo over 10 million yuan in losses, NetEase said.

The company announced at noon that about 10 million yuan in coupons were stolen through an expired coupon.

It claimed that illegal profits were made, and the case has been reported to police.

The bug has now been addressed and past orders are being traced, the company said.