Binance-affiliated companies sue crypto payments firm RedotPay, alleging it diverted Binance Card users in breach of a commercial agreement. Multiple outlets report the claims center on alleged losses of about $473 million (or roughly $470 million), with one account also citing more than 470,000 users. The lawsuit is filed in Hong Kong and seeks nearly $473 million in damages, according to the reports.
RedotPay denies the allegations and says it will defend itself “vigorously” while continuing normal operations, the outlets add. One difference in coverage concerns a parallel dispute in Singapore: RedotPay says it expects Binance to end a Singapore case and has indicated it may seek costs if proceedings are discontinued. Binance-linked parties reject that request, saying the Singapore lawsuit remains active and that they are committed to their claims.
Overall, outlets agree the litigation involves claims of customer diversion tied to Binance Card and a sizable damages demand, but they diverge on the status and expected outcome of related proceedings in Singapore versus Hong Kong.
