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, noting that Ng’s transition has been in the works for the last half year. Ng joined Binance as CFO in January 2022, having previously held the same role at crypto exchange Kraken for about five years.
Justin Yek, former vice-president of finance at Airwallex, will take over Ng’s position. The leadership change comes just over a week after Binance suffered a record-breaking hack, where approximately $6.3 billion was stolen on October 29. The exchange has pledged to absorb the losses rather than pass them on to customers.
The FBI and several researchers have attributed the attack to North Korean hackers, a claim that the country has denied. The incident has heightened concerns about security in the crypto industry, particularly among Asian exchanges.