Binance announces CFO Kaiser Ng’s departure days after record US$6.3 billion crypto theft - The Business Times
Binance announced CFO Kaiser Ng's departure days after hackers stole US$6.3 billion from the world's largest cryptocurrency exchange.
Binance's finance chief Kaiser Ng is leaving the company to pursue another venture, the world's biggest cryptocurrency exchange said days after hackers stole US$6.3 billion from the platform in a record heist.
The announcement comes just over a week after Binance revealed that hackers compromised its systems in a sophisticated attack that began months earlier with the compromise of several employees' computers.
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 been CFO at Binance since January 2022 and has 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
Binance has said the breach, which unfolded on Oct 29, started with malware hidden in software downloads and fake job recruitment efforts targeting engineers. The company has pledged to fully reimburse affected customers.
The FBI has blamed a North Korean hacking group for the theft, an allegation Pyongyang has denied. The investigation into the security failure continues as Binance works to restore confidence in its platform.
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