Binance Sues RedotPay Over Alleged User Diversion and $473 Million Loss

Binance-affiliated entities have filed a lawsuit against RedotPay and its co-founders in Hong Kong. The complaint alleges that they breached an agreement by diverting over 470,000 Binance users to their crypto card platform, resulting in $472.8 million in losses.

The lawsuit claims that the alleged actions were carried out in violation of an agreement between the parties. RedotPay has denied the allegations and stated that it will defend itself through the appropriate legal process.

A related lawsuit filed by Chaintecs against RedotPay affiliates in Singapore is scheduled for a hearing on Friday.