Binance Affiliates Sue RedotPay Over Alleged User Redirect

Binance affiliates have filed a lawsuit against RedotPay co-founders, alleging that the company violated a commercial agreement and redirected over 470,000 Binance Card users to its service.

The plaintiffs, Nest Trading, Distributed Technologies, and Chaintex Consulting Singapore, claim that RedotPay enabled users to top up their stablecoin payment cards using Binance Pay outside the scope of the contract.

The lawsuit alleges that this conduct contributed to RedotPay's enterprise value and was linked to its review of the possibility of an initial public offering (IPO).