Binance CFO steps down nine days after $6 billion hack

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Binance Chief Financial Officer Kaiser Ng is leaving the company and will be replaced by Justin Yek, a former finance executive at payments firm Airwallex, co-CEO Yi He said on Saturday, according to Bloomberg.

Yi He said Ng had decided to pursue a new venture after more than five years at Binance. She added that the company had been preparing the transition for the past six months. The statement did not specify when Ng would leave or what he plans to do next.

Ng became Binance’s CFO in January 2022 and previously worked at rival exchange Kraken. Yek most recently served as vice president of finance at Airwallex.

The announcement comes nine days after the 29 October hack, in which attackers stole more than $6 billion from Binance across multiple blockchains. The FBI attributed the attack to TraderTraitor, a North Korean hacking group.

Binance had replenished around 95% of the affected assets using its own funds by 2 November, when it completed a proof-of-reserves snapshot and began restoring withdrawals, according to The Block. The hackers have since exchanged stolen tokens for $124 million in Bitcoin, blockchain analytics firm Elliptic said.