Binance CFO Kaiser Ng leaves after historic $6 billion crypto heist

Binance Holdings Ltd., the world's largest crypto exchange, is losing its chief financial officer just days after hackers stole more than $6 billion from the platform. Kaiser Ng is leaving the company after more than five years, according to a statement from Binance co-Chief Executive Officer Yi He, reported Insurance Journal.

Justin Yek, who was most recently vice-president of finance at payments platform Airwallex, will take over as the new chief financial officer. The heist took $6.3 billion from Binance last week, marking the biggest theft in cryptocurrency history. The FBI stated on Oct. 31 that North Korea carried out the attack.

Binance said it has already covered about 90% of the stolen amount and is working to fully reimburse affected customers. Ng joined Binance in January 2022 after spending five years at another crypto exchange called Kraken. Other trading platforms including Bitget and Bybit have also faced major hacks recently.

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Yi He said a transition plan for the leadership change has been underway for the last six months. Yek stated he is thrilled to step into the role and lead the finance organization as the platform continues to scale globally.