According to CoinMeta, and as reported by Bloomberg, Binance-related entities Nest Trading, Distributed Technologies, and Chaintecs Consulting Singapore have filed a lawsuit in Hong Kong, accusing Gao Zhangpeng, Chan Wa Choi, and Yao Chao – the co-founders of the largest cryptocurrency card company Redotpay – of violating agreements by directing over 470,000 Binance users to Redotpay, resulting in losses of $472.8 million. Redotpay denies these allegations and stated that it will respond through appropriate legal proceedings, noting that the case will not affect its daily operations. Chaintecs has also filed a lawsuit against a company affiliated with Redotpay in Singapore, with a hearing scheduled for this Friday.