Mobike Denies Misappropriating Deposit, Says Users Can Withdraw Any Time

Mobike rejected a November report that it and its competitor ofo had run into liquidity problems and started using users’ deposited funds to support their expansion. Mobike holds approximately 6 billion yuan in deposited funds. Mobike and ofo also reportedly stoped paying their debts to bicycle factories and PR companies.

A spokesperson for Mobike said the report was seriously inconsistent and said “users can withdraw their deposits at any time.”

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Ofo also said that users can refund their deposits through the official App, customer service phone line or other channels.

The following is the full text of the statement:

This report was seriously inconsistent with the facts and Mobike strongly condemns it.

Mobike will defend its rights and interests through legal means against malicious slurs and rumors on the Internet.

“User orientation” is one of Mobike core values. Since its establishment, Mobike has valued “the guaranteed safety of users’ deposits” and ensured their ability to withdraw at any time.

Mobike called for the sharing bicycle industry to attach importance to users’ interests and ensure the safety and refundability of users’ deposit.

The following is the full text of ofo’s statement:

ofo is continuing its orderly operation. It has strictly guaranteed users’ security since its establishment and set up a convenient and smooth deposit process.

Currently, users can refund their deposits through the official App, customer service number and other channels.

In addition, through our cooperation with Zhima Credit, ofo has offered free-deposit ride services to users in 25 cities to ensure a better user experience.