Binance CFO Kaiser Ng steps down, Justin Yek named new finance chief

Binance, the world's largest cryptocurrency exchange, has announced that its finance chief, Kaiser Ng, is stepping down to embark on a new venture. Ng has been with the company for over five years, and the transition plan was implemented in the past six months. Binance's Co-Chief Executive Officer, Yi He, announced the decision in a statement on Saturday.

Justin Yek, a seasoned finance executive, has been named as the new Chief Financial Officer (CFO) at Binance. Yek previously served as the vice-president of finance at Airwallex. The announcement of a new CFO comes just over a week after Binance reported that hackers had stolen $6.3 billion from the platform in a sophisticated attack.

The breach, which began months earlier, started with malware hidden in software downloads and fake job recruitment efforts targeting engineers. Binance assured customers that it would fully reimburse those affected. The FBI has attributed the theft to a North Korean hacking group, a claim North Korea has denied. Ng had been serving as Binance's CFO since January 2022 and previously worked at rival cryptocurrency exchange, Kraken, as per his LinkedIn profile.