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Binance Sues RedotPay for $473 Million Over Alleged User Diversion

Guavy AI Editorial Team
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Binance has filed a lawsuit against RedotPay and its co-founders for nearly $473 million, alleging that the company diverted over 470,000 Binance Card users in breach of their commercial agreement.

The plaintiffs claim that RedotPay allowed users to fund its stablecoin payment cards through Binance Pay outside the terms of the agreement, leading to a significant loss of customers for Binance.

RedotPay has denied the allegations and said it is actively defending the claims through the appropriate legal process.

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