On myLondonCycle they're encouraging you to play a Twitter-based game with the Hire Bikes.
Whenever you take one out, you tweet its number and use a particular hashtag. So by searching Twitter, you can then track the progress of individual bikes - er, or people. Check in whenever you use a hire bike, it urges you, so "everyone knows where you are cycling".
I'm not particularly a fan of surveillance. But maybe such surveillance could help explain how this hire bike got here. We spotted it in a back garden overlooking the Hertford Canal by Victoria Park the other day. There might be a perfectly reasonable explanation, though the amateurish way someone's spray-painted out the logo on the wheel trim raises suspicions.
Of course, there's disappointment for those using a stolen model. Many parts are non-standard and impossible to maintain without specialist equipment. (The valves, for instance, use special locks; you can't take a normal pump to them.)