Binance Holdings Ltd., the world’s largest cryptocurrency exchange, is facing a leadership change following a major security breach. Kaiser Ng, the company’s chief financial officer, is stepping down after more than five years with the firm. His departure comes just days after hackers stole over $6 billion in cryptocurrency from Binance.
In a statement, Binance co-Chief Executive Officer Yi He confirmed Ng’s decision to pursue a new venture. She noted that a transition plan had been in place for the last half year, suggesting the move was not entirely unexpected. Binance expressed gratitude for Ng’s contributions and wished him success in his future endeavors.
Justin Yek has been named as Ng’s successor, taking over the role of CFO. The announcement provides some stability amid the fallout from the recent cyberattack, which has raised concerns about security measures at the exchange.