Binance CFO Kaiser Ng steps down following record crypto theft - The Business Times
Binance's finance chief Kaiser Ng is leaving the company days after hackers stole US$6.3 billion from the world's biggest cryptocurrency exchange in a record heist.
Binance's finance chief Kaiser Ng is leaving the company days after hackers stole US$6.3 billion from the world's biggest cryptocurrency exchange in a record heist. The departure comes with Ng pursuing a new venture after more than five years at Binance, with a transition plan implemented over the last half year.
Leadership Change
Justin Yek, a long-time finance executive who was most recently vice-president of finance at Airwallex, is taking over as CFO. Ng has served as Binance's CFO since January 2022 and previously worked at rival crypto exchange Kraken.
Kaiser Ng has decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the last half year.
Security Breach
The announcement comes just over a week after Binance revealed hackers stole cryptocurrency in a sophisticated attack that began months earlier with the compromise of several employees' computers. The breach, which unfolded on Oct 29, started with malware hidden in software downloads and fake job recruitment efforts targeting engineers.
Binance has said it will fully reimburse affected customers. The FBI has blamed a North Korean hacking group for the theft, an allegation Pyongyang has denied.
Related
