Crypto firm RedotPay says it will defend itself ‘vigorously’ against Binance lawsuit
Binance alleged RedotPay poached customers from the crypto exchange in a lawsuit filed in Hong Kong.
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Summary
- Binance has sued Hong Kong-based RedotPay and its founders, alleging the firm diverted about 470,000 Binance customers and caused nearly $473 million in losses to the exchange.
- RedotPay, which calls itself the world’s largest stablecoin payment card issuer and is planning a U.S. IPO of more than $1 billion, has rejected the claims as unfounded and vowed to defend itself “vigorously.”
- Binance alleged RedotPay improperly used Binance Pay funds to top up its own prepaid cards against contractual agreements.
