Binance has appointed Justin Yek as its new chief financial officer, replacing Kaiser Ng just days after the exchange suffered a record-breaking $6.3 billion crypto hack. The leadership change comes as Binance works to recover from the late October breach, which was traced back to malware hidden in software downloads and fake job recruitment efforts targeting engineers.
Yek, a veteran finance executive, previously served as vice president of finance at Airwallex. Ng, who had been CFO since January 2022, is leaving to pursue another venture. Binance Co-Chief Executive Officer Yi He confirmed the transition, stating that Ng had been planning his departure for the last half year.
The hack, which compromised several employees’ computers, has been attributed to a North Korean hacking group by the FBI, though Pyongyang has denied the allegation. Binance has pledged to fully reimburse all affected customers as part of its response to the incident.