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Binance Sues RedotPay for $470M Over Alleged Customer Poaching

Guavy AI Editorial Team
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Binance has filed a $470 million lawsuit against RedotPay in Hong Kong, alleging that the crypto card provider poached customers from its platform.

The complaint claims that RedotPay systematically diverted Binance users to its own crypto-to-fiat spending service, causing significant damage to Binance's business.

Binance believes that RedotPay didn't just win customers on merit, but by targeting them through insider knowledge or direct access gained via Binance's platform.

RedotPay has vowed to defend itself 'vigorously' against the allegations.

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