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Binance seeks US$472.8M from RedotPay
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Binance seeks US$472.8M from RedotPay

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  • Binance-linked companies sued RedotPay founders, alleging more than 470,000 Binance Card users were diverted.
  • The plaintiffs seek US$472.8 million in damages, valuing each allegedly diverted customer at US$925.
  • RedotPay rejected the allegations and said the legal proceedings will not affect its day-to-day operations.

Binance-linked companies sued RedotPay founders, seeking US$472.8 million over the alleged diversion of more than 470,000 Binance Card users.

The plaintiffs allege RedotPay allowed Binance Pay funds to top up RedotPay cards outside the terms of their commercial agreement.

“We are confident in our legal position, and are vigorously defending all claims,” RedotPay said in a statement.

The plaintiffs calculated US$472.8 million in damages using an estimated lifetime customer value of US$925 for each allegedly diverted user.

RedotPay said the proceedings will not affect operations, while Binance said it may use courts to pursue its position.

RedotPay said its customer base exceeds 8 million, with about US$180 million in annualised revenue and US$14 billion in payment volume.

Binance ended support for Binance Pay features on RedotPay on 3 April 2026 following a review of its merchant partners.

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