Binance’s Chief Financial Officer, Kaiser Ng, is stepping down from his role after more than five years with the company. The departure comes just days after the world’s largest cryptocurrency exchange suffered a record-breaking hack, resulting in the theft of $6.3 billion. Binance Co-Chief Executive Officer Yi He announced Ng’s decision in a statement on Saturday, noting that the transition has been in the works for the past six months.
Taking over as the new CFO is Justin Yek, who previously served as vice-president of finance at Airwallex. The announcement follows a significant security breach that Binance attributed to a sophisticated attack beginning months earlier. The hackers compromised several employees’ computers through malware hidden in software downloads and fake job recruitment efforts.
Binance has pledged to fully reimburse all affected customers. The FBI has accused a North Korean hacking group of orchestrating the theft, a claim that Pyongyang has denied. Ng, who joined Binance in January 2022, had previously worked at rival crypto exchange Kraken, according to his LinkedIn profile.