Binance Seeks $473 Million in RedotPay Customer Diversion Lawsuit

The legal action, filed in Hong Kong, centers on a commercial agreement that previously allowed RedotPay users to fund payment cards via Binance Pay. Binance affiliates Nest Trading, DistributedTechnologies, and Chaintecs Consulting Singapore contend that RedotPay violated these terms, effectively migrating a massive portion of the Binance ecosystem to its own platform. The astronomical damage claim is calculated based on a lifetime customer value of $925 per user.

Parallel proceedings have emerged in Singapore, where Chaintecs Consulting Singapore is targeting RedotPay co-founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao. While the dispute threatens to complicate RedotPay’s ambitions for a public listing—valued by some estimates at over $4 billion—the firm maintains its operations remain unaffected. RedotPay, which claims a global user base of 8 million, has vowed to defend its position in court, dismissing the allegations as it continues to process $14 billion in annualized payment volume.