Binance-affiliated companies sued the founders of Hong Kong-based cryptocurrency payments company RedotPay, alleging they diverted more than 470,000 Binance Card users in breach of their commercial agreement. The plaintiffs seek nearly $473 million in damages, based on a $925 lifetime customer value per user. RedotPay said it will contest the claims and that legal proceedings will not affect its operations. Chaintecs, one of Binance’s affiliated companies, also filed a related lawsuit in Singapore.
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