Binance Affiliates Sue RedotPay Co-Founders Over Alleged Bypass Payments

A lawsuit has been filed by Binance-affiliated entities against RedotPay's co-founders for $472.8 million in damages.

The plaintiffs, including Nest Trading, claim that more than 470,000 Binance users were directed to make bypass payments through RedotPay cards, resulting in significant losses.

The lawsuit alleges that RedotPay's co-founders - Gao Zhangpeng, Chan Wa Choi, and Yao Chao - orchestrated a scheme to divert payments away from Binance's platform, violating agreements and causing financial harm.