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Binance Sues RedotPay, Seeks $472.8 Million Over Alleged User Diversion
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Binance-affiliated entities have filed a lawsuit in Hong Kong against RedotPay and its co-founders, alleging they breached an agreement by diverting more than 470,000 Binance users to the crypto card platform. According to the complaint, the alleged actions caused $472.8 million in losses. RedotPay has denied the allegations and said 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.
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