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BUSINESS & TECH

Shared Bikes Fall Prey to Thieves, Secondhand Markets

By April Ma
A broken Mobike lies in a residential community in Shanghai's Putuo district on Nov.28. As Mobike and Ofo shared bicycles, which can be unlocked with a smartphone app and left anywhere after use, have become popular in many large cities, more of the bicycles are being stolen and sold online. Photo: Visual China
A broken Mobike lies in a residential community in Shanghai's Putuo district on Nov.28. As Mobike and Ofo shared bicycles, which can be unlocked with a smartphone app and left anywhere after use, have become popular in many large cities, more of the bicycles are being stolen and sold online. Photo: Visual China

(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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