Binance’s chief financial officer, Kaiser Ng, is reportedly leaving the company to pursue a new venture after more than five years of service. Binance co-CEO Yi He confirmed the departure in a statement obtained by Reuters, noting that Ng’s transition has been in the works for the last half year.
Ng joined Binance as its CFO in January 2022, having previously held the same position at crypto exchange Kraken for about five years. His successor will be Justin Yek, who formerly served as vice-president of finance at Airwallex.
The announcement comes just over a week after Binance suffered a record-breaking hack, where approximately $6.3 billion was stolen on October 29. The FBI and several researchers have attributed the attack to North Korean hackers, a claim the country has denied. Binance has stated it will absorb the losses rather than pass them on to customers.
Asian crypto exchanges are reportedly tightening security measures in response to a surge in hacks, according to a report from Cointelegraph.