Binance Sues RedotPay Over Alleged User Diversion and Contract Breach
Binance has filed a lawsuit against RedotPay and its co-founders for allegedly breaching their partnership agreement. The dispute centers on the diversion of over 470,000 Binance Pay users to RedotPay's rival product.
The two companies had entered into an agreement in March 2025, which allowed RedotPay access to Binance's user base while providing Binance with a wider retail footprint. However, Binance claims that RedotPay ignored the terms of their contract and used Binance Pay funds for prohibited activities such as card top-ups.
Binance is seeking $472.8 million in damages, valuing each migrated user at $925 in lifetime revenue. The exchange also alleges that roughly $304 million in user funds from Binance Pay were diverted to RedotPay's ecosystem.