Binance CFO Resigns Days After Company Loses US$6 Billion To Hackers
Kaiser Ng, the chief financial officer (CFO) at cryptoexchange, Binance, is leaving the company. Ng’s departure comes a week after the company fell victim to hackers who made off with more than US$6 billion (~RM24.3 billion), raising questions amongst the community in the process. “Kaiser Ng has decided to pursue a new venture after more […] The post Binance CFO Resigns Days After Company Loses…
Kaiser Ng, Binance's chief financial officer, is stepping down from the company after a week-long hack that resulted in the loss of over US$6 billion (RM24.3 billion). Yi He, co-CEO of Binance, announced Ng's departure, stating he has decided to embark on a new venture after five years at Binance. Justin Yek, currently vice president of finance at AirWallex, will take over as the new CFO.
The massive heist is suspected to be the work of hackers from North Korea, though Pyongyang has refuted these claims. According to Binance, the attack began with malware embedded in software downloads and fraudulent job recruitment attempts targeting engineers. In response, the exchange has frozen approximately US$3 billion (RM12.2 billion) worth of impacted assets on-chain.
Binance continues to collaborate with law enforcement agencies and industry partners to trace and recover the remaining assets. Ng began his tenure at Binance in January 2022, previously working at Kraken, another crypto exchange embroiled in controversy.
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