Techbuzz China By Pandaily

In episode 36 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about the dirty, risky, and more unseemly aspects of China tech, primarily focused on two stories that grabbed headlines recently: the “hack” at the ecommerce company Pinduoduo, and the corruption scandal at the drone designer DJI. Although the incidents differ greatly from each other, they have come on each other’s heels, so our co-hosts decided to bundle them together for an episode, reflecting what’s buzzing within the tech community in China right now. Rui and Ying-Ying begin by focusing on the Pinduoduo story. This past week, the company lost millions of dollars to hackers who obtained millions of $15 coupons and sold them for as little as $0.06. At one point, it was rumored that the platform lost over $3 billion in just a few hours, and users wondered if the company would go bankrupt. Pinduoduo has denied these rumors and insists that actual losses will be less than $1.5 million. However, what exactly happened? How did Pinduoduo deci