Binance has confirmed that Chief Financial Officer Kaiser Ng is stepping down after more than five years, with former Airwallex finance executive Justin Yek named as his replacement. Co-CEO Yi He said in a statement that Ng has decided to pursue a new venture and that a transition plan had been implemented over the previous six months. The announcement did not specify when Ng's departure takes effect or what his next venture will be. Ng has served as CFO since January 2022 and previously held a finance leadership role at rival exchange Kraken.
The leadership change arrives nine days after the October 29 security breach in which attackers drained more than $6 billion from Binance across multiple blockchains, reported by some outlets as approximately $6.3 billion and described as the largest cryptocurrency theft on record. The FBI has attributed the attack to TraderTraitor, a North Korean hacking group. Binance said the intrusion involved compromised employee devices, malicious software, and fraudulent recruitment efforts that gave attackers access to internal wallet-signing infrastructure. By November 4, the exchange said it had replenished about 98% of the impacted amount and set aside more than 100% of the required funds from its own resources, while expanding its Proof of Reserves snapshot from 10 to 44 tokens.
As of November 6, blockchain analytics firm Elliptic reported that the attackers had converted around $124 million in stolen altcoins into Bitcoin, with laundering activity tracked across thousands of wallets and multiple networks. Binance also disclosed that it had prevented 57 suspected North Korea-linked cyberattacks during 2026 before the October incident succeeded. The new CFO now takes over financial operations while the exchange works to complete asset replenishment, strengthen internal controls, and restore confidence among customers and institutional counterparties.
