Binance Sues RedotPay Over Alleged User Diversion

Binance has filed a lawsuit against RedotPay's co-founders in a Hong Kong court, alleging they breached a commercial agreement and diverted users from Binance Card to RedotPay's platform.

The plaintiffs claim over 470,000 users were steered away from Binance Card toward RedotPay, with roughly $304 million flowing through Binance Pay into RedotPay's system.

Binance-affiliated entities are seeking $472.8 million in damages, calculated using an estimated $925 lifetime value per user.