Binance has appointed Justin Yek as its new chief financial officer, replacing Kaiser Ng just days after the exchange suffered a record-breaking $6.3 billion crypto hack. The leadership change comes as Binance works to recover from the late October breach, which was traced back to malware hidden in software downloads and fake job recruitment efforts targeting engineers.
Yek, a veteran finance executive, previously served as vice president of finance at Airwallex. Ng, who had been CFO since January 2022, is leaving to pursue another venture, according to Binance Co-Chief Executive Officer Yi He. She noted that Ng's transition had been planned over the last half year.
The hack, which Binance attributed to malware and compromised employee computers, has been linked to a North Korean hacking group by the FBI. Pyongyang has denied the allegations. Binance has pledged to fully reimburse affected customers.