Binance Finance Chief Kaiser Ng Steps Down Days After the Record Hack

Binance is getting a new chief financial officer. Kaiser Ng, who has held the job since January 2022 and earlier worked at rival exchange Kraken, is leaving after more than five years with the company. Co-CEO Yi He said in a Saturday statement that Ng wants to pursue a new venture and that a handover plan has been running for roughly the last six months, well before any attack. Justin Yek, most recently a finance vice president at payments company Airwallex, will take over. The statement gave no exit date and no details about what Ng will do next.

Timing and Hack Fallout at Binance

What Happened on Oct. 29

The announcement lands nine days after attackers drained more than $6 billion from Binance across several blockchains. The FBI has pinned the theft on TraderTraitor, a North Korean hacking group. Binance says it refilled about 95% of the affected assets from its own funds by Nov. 2, when it completed a proof of reserves snapshot and began restoring withdrawals.