Binance-affiliated entities sue RedotPay, seeking $470 million in damages Binance-affiliated entities Nest Trading, DistributedTechnologies, and Chaintecs Consulting have filed a lawsuit in Hong Kong against RedotPay co-founders, accusing them of breaching agreements by transferring over 470,000 Binance users to the RedotPay Card, resulting in a $472 million loss through an alleged 'fraud scheme.' RedotPay denies the allegations, stating they will respond through legal proceedings and that the lawsuit does not affect daily operations. The company had previously been considering an IPO at a $4 billion valuation.