Binance CFO leaves the exchange amid a record cryptocurrency theft — who will replace him
Kyiv • UNN
Kaiser Ng is stepping down as Binance’s CFO after more than five years with the company. Justin Yek will replace him amid a $6.3 billion cryptocurrency theft.
Binance Chief Financial Officer Kaiser Ng is leaving the company to pursue another project. The world’s largest cryptocurrency exchange announced this several days after hackers stole $6.3 billion from the platform in a record-breaking theft, UNN reports, citing Reuters.
"Kaiser Ng has decided to start a new venture after more than five years at Binance. The handover process has been ongoing over the past six months," Binance co-CEO Yi He said in a statement on Saturday.
The position of chief financial officer (CFO) will be taken by Justin Yek, an experienced financial executive who previously served as vice president of finance at Airwallex.
The publication notes that the announcement came slightly more than a week after Binance reported that cryptocurrency had been stolen in a sophisticated hacking attack. It began several months earlier with the hacking of the computers of several employees.
Binance said that the incident, which occurred on October 29, was caused by malware hidden in downloadable files, as well as fake job offers targeting engineers. The company promised to fully reimburse affected customers for their losses.
The FBI blamed a North Korean hacking group for the theft; Pyongyang rejected the accusations.
According to his LinkedIn profile, Kaiser Ng had served as Binance’s chief financial officer since January 2022 and previously worked at the competing cryptocurrency exchange Kraken.