GRIZZLY RESEARCH Believes $PDD is a Dying Fraudulent Company

“We believe $Pinduoduo Inc.(PDD)$ is a Dying Fraudulent Company and its Shopping App TEMU is Cleverly Hidden Spyware that Poses an Urgent Security Threat to U.S. National Interests.“ By Grizzly Research

Grizzly Research posted The app has hidden functions that allow for extensive data exfiltration unbeknown to users, potentially giving bad actors full access to almost all data on customers’ mobile devices.

It is evident that great efforts were taken to intentionally hide the malicious intent and intrusiveness of the software.

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Pinduoduo app got reinstated by removing the “bad parts”, some of which were identically utilized as components of the TEMU app, strongly indicating malicious intent.

We strongly suspect that TEMU is already, or intends to, illegally sell stolen data from Western country customers to sustain a business model that is otherwise doomed for failure.

TEMU is estimated to be losing $30 per order. Its ad spending and shipping costs (1-2 weeks from China, expedited to U.S. delivery) are astronomical. One is left wondering how this business could ever be profitable.

Full report link：https://grizzlyreports.com/we-believe-pdd-is-a-dying-fraudulent-company-and-its-shopping-app-temu-is-cleverly-hidden-spyware-that-poses-an-urgent-security-threat-to-u-s-national-interests/

As of post, $Pinduoduo Inc.(PDD)$ declined 6.88% with a 15.49% as YTD2023.