Binance CFO Kaiser Ng steps down nine days after record hack
Binance CFO Kaiser Ng is leaving the company
Binance Chief Financial Officer Kaiser Ng is stepping down. Justin Yek will replace him. Co-CEO Yi He announced the change on Saturday.
Yi He said Ng decided to pursue a new venture after more than five years at Binance. Binance is a crypto exchange, a platform where users buy and sell digital assets.
Replacement is former Airwallex finance executive
- Ng has been CFO since January 2022.
- Ng previously worked at rival exchange Kraken.
- Yek was most recently vice president of finance at payments firm Airwallex.
- Yi He said a transition plan had been put in place over the past six months.
Change comes nine days after record hack
Attackers stole more than $6 billion from Binance on Oct. 29. The funds were taken across multiple blockchains. A blockchain is a shared record system used to track crypto transactions.
The FBI has attributed the attack to TraderTraitor, a North Korean hacking group.
Binance had replenished about 95% of the affected assets with its own funds as of Nov. 2. It completed a proof of reserves snapshot that day and began restoring withdrawals. Blockchain analytics firm Elliptic said hackers had swapped stolen tokens for $124 million in bitcoin.
Departure date and next venture not stated
Binance did not say when Ng's departure takes effect. It also did not say what his next venture is.
Where this report comes from
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.