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Binance Sues RedotPay Over User Poaching | Bitcoin and Crypto News
Description
Binance is suing RedotPay over alleged user poaching, claiming the Hong Kong crypto payments firm stole 470K users by letting them load cards via Binance Pay — violating their agreement and boosting RedotPay’s valuation ahead of an IPO. Binance seeks $473M in damages, estimating $925 lifetime value per user. A similar lawsuit is pending in Singapore with a Friday hearing. RedotPay denies wrongdoing, vows to fight, and says operations won’t be affected. Binance remains silent but confirms it’ll use legal channels to protect its interests as this high-stakes battle unfolds.
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