Binance Chief Financial Officer Kaiser Ng is stepping down after more than five years at the company. His departure comes just nine days after the exchange suffered a record hack, though Binance co-CEO Yi He emphasized that the transition had been planned for six months. Ng will be replaced by Justin Yek, a former finance executive at payments firm Airwallex.
Ng, who joined Binance as CFO in January 2022, previously worked at rival exchange Kraken. Yek most recently served as vice president of finance at Airwallex. The announcement did not specify when Ng's departure would take effect or what his next venture would be.
The news follows the October 29 hack, in which attackers stole over $6 billion from Binance across multiple blockchains. The FBI has linked the attack to TraderTraitor, a North Korean hacking group. As of November 2, Binance had replenished about 95% of the affected assets using its own funds and had resumed withdrawals.
According to blockchain analytics firm Elliptic, the hackers have since converted stolen tokens into $124 million in bitcoin. The exchange completed a proof of reserves snapshot shortly after the hack, providing some reassurance to users.