Online shared bike scam

Police are warning that a shared bike partnership recruitment request circulating on social media is a fraud, reports the Xinhua News Agency.

Shared bikes put on the side of a road in Shanghai [File photo: VCG]

An advertisement has gone viral on Chinese social media, claiming the possibility of high profits by investing in shared bikes. It claims an investor can earn a profit of 60 yuan (8.75 USD) every day by purchasing a shared bike at 880 yuan. Investors are also being promised an 80 yuan bonus for attracting more partners.

People who show interest in the partnership are added to an online group, but are then kicked out and blocked after paying, according to police.

Police in Shenzhen received a dozen reports in just one day involving over one million yuan.

Authorities are warning people to be cautious of online campaigns involving money. They request that any suspicious fund-raising campaigns be forwarded to police.