Binance Files $473M Lawsuit Against RedotPay Over Alleged Binance Card User Diversion

Binance has launched a major legal battle against crypto payments firm RedotPay, accusing the company of violating a commercial agreement and redirecting hundreds of thousands of users. The exchange’s affiliated companies seek $472.8 million in damages, arguing the alleged customer migration significantly reduced the long-term value of its Binance Card business. However, RedotPay disputes every allegation and insists the lawsuit will not interrupt its operations or expansion plans.

Binance Claims Agreement Breach

According to Bloomberg, Binance affiliates Nest Trading, DistributedTechnologies, and Chaintecs Consulting Singapore filed the Hong Kong lawsuit against RedotPay founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao.

The companies claim RedotPay diverted more than 470,000 Binance Card users through Binance Pay outside agreed commercial terms. Consequently, Binanc…

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