Ryde Technologies Company has expressed concern over hundreds of fake accounts making "phantom bookings" that have recently plagued Singapore-based firm.

In recent weeks, nearly 300 such accounts have made 2,000 bogus bookings, costing drivers $50,000 (£37,900).

The start-up investigated the problem after drivers complained.

Uber, which offers a similar service, has in the past reported cases of fake bookings in other countries.

Ryde has filed a report with local police who are now investigating the matter, according to Reuters.

"Such manipulations of the app have distressed affected drivers, as their means of livelihood have been impacted. On top of causing drivers to lose money on fuel, these acts severely limit the drivers'; availability to take on more jobs as it sends them driving around in vain when they could have been picking up legitimate riders," the firm said in a statement.