Shared Bikes Fall Prey to Thieves, Secondhand Markets
(Beijing) — Bike trafficking has become a bump in the road for bike sharing, China's latest venture-backed fad, as stolen shared bikes have begun to emerge on online secondhand markets.
Ubiquitously strewn on the sidewalks of China's major cities, shiny Ofo and Mobike bicycles, which cost about 350 yuan ($50) and 3,000 yuan respectively to make, have fallen prey to theft and illegal sales.
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