Crypto

RedotPay Vows to Defend Against Binance's $470M Lawsuit Over Alleged User Poaching

Guavy AI Editorial Team Published August 6, 2026

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BNB

RedotPay has fired back at Binance's $470 million lawsuit over alleged user poaching, saying it will 'vigorously defend' itself against the claims. The Hong Kong-based stablecoin payment card issuer denied Binance's allegations that it improperly diverted hundreds of thousands of users from Binance Pay, resulting in estimated losses of nearly $473 million.

Binance affiliates filed a lawsuit accusing RedotPay of redirecting approximately 470,000 Binance customers. However, RedotPay stated that the claims against both itself and its co-founders are without merit.

The legal dispute extends beyond Hong Kong, with Binance affiliate Chaintecs also initiating legal proceedings against RedotPay-related entities in Singapore. A court hearing is scheduled for Friday.

RedotPay Vows to Defend Against Binance's $470M Lawsuit Over Alleged User Poaching

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