Binance2026-08-08 10:32:30Binance sues RedotPay founders in Hong Kong and Singapore, seeking $472.8 millionBinance-affiliated entities have opened legal action against RedotPay’s co-founders in Hong Kong, with a parallel case also moving ahead in Singapore, according to a Bloomberg-cited report carried by WuBlockchain. The dispute centers on RedotPay’s card top-up flow tied to Binance Pay and whether the funds involved were properly segregated. The claim totals $472.8 million. The figure was reportedly calculated by assigning a $925 lifetime value, or LTV, to each of roughly 470,000 users that Binance says were diverted into the RedotPay system. The report says this kind of user-value model is common in internet litigation, though far less typical in crypto disputes. The case lands at a sensitive moment for RedotPay. The company is described in the article as a crypto payments unicorn targeting a valuation above $4 billion in a planned U.S. IPO. The same report lists more than 6 million users, about $10 billion in annualized payment volume, and annualized revenue above $150 million. RedotPay has said it will actively defend against all allegations and that day-to-day operations remain unaffected. Still, the lawsuit now hangs over its listing plans.1870
JPEX2026-07-23 19:50:15Hong Kong Adjourns JPEX Fraud Hearing to June 1; Influencers Lin Zuo and Chen Yi Among 10 ChargedHong Kong's Eastern Magistrates' Court adjourned the JPEX fraud case to June 1 after a March 16 mention. 10 defendants, including influencers Lin Zuo and Chen Yi, face conspiracy to defraud and money laundering charges. One suspect remanded.1790
