Binance CFO Kaiser Ng steps down days after hackers steal $6.3-billion — SkimNews
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- Kaiser Ng decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the prior half-year, Binance Co-CEO Yi He said.
- Justin Yek is taking over as CFO after serving as vice-president of finance at Airwallex.
- Binance said hackers stole cryptocurrency in a sophisticated attack just over a week before Ng’s departure announcement; the breach began months earlier with the compromise of several employees’ computers.
- Binance’s Oct. 29 attack started with malware hidden in software downloads and fake job-recruitment efforts targeting engineers, and the company said it would fully reimburse affected customers.
- Binance customers pulled $4.7 billion after the hack, while Binance described withdrawals as stabilizing following the $6.3 billion theft.
- FBI blamed a North Korean hacking group for the theft, an allegation Pyongyang denied.
- TRM Labs executive called the Binance hack a “cyber war”; Binance separately described a sophisticated attack that began months earlier, and the FBI blamed a North Korean group.
Why it matters: Affected Binance customers are promised full reimbursement after a $6.3 billion theft just as the company changes finance leadership; $4.7 billion had already been withdrawn and withdrawals were described as stabilizing. The handover to Justin Yek therefore lands while customer payouts and withdrawal management remain the immediate operational stakes.
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