Binance CFO Kaiser Ng leaves; Justin Yek named new finance chief
Binance's CFO Kaiser Ng steps down to pursue a new venture, with Justin Yek taking over. The change follows a US$6.3 billion hack attributed to North Korean hackers.
Kaiser Ng, the chief financial officer of Binance, the world's largest cryptocurrency exchange, is leaving the company to pursue another venture, the firm announced on Saturday. The departure comes days after hackers stole US$6.3 billion (HK$49.14 billion) from the platform in a record heist.
Binance Co-Chief Executive Officer Yi He said in a statement that Ng had decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the last half year. Justin Yek, a longtime finance executive who was most recently vice-president of finance at Airwallex, will take over as CFO.
The announcement follows a sophisticated hack that Binance said began months earlier with the compromise of several employees' computers. The breach, which unfolded on October 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 that Pyongyang has denied. Ng had been CFO at Binance since January 2022 and previously worked at rival crypto exchange Kraken, according to his LinkedIn profile.