Binance appoints new CFO after major crypto theft
6.8 Security Binance names Justin Yek as CFO after Kaiser Ng’s exit, days after a $6.3B crypto theft. The company will reimburse users and says the attack is linked to North Korea.
Binance has announced the departure of its Chief Financial Officer, Kaiser Ng, who is leaving after more than five years to pursue a new project. The transition process has been ongoing for six months and concludes with the appointment of Justin Yek as the new CFO. Yek brings experience from Airwallex and investment banking, stepping in at a pivotal time for the company. This leadership change comes just days after Binance experienced a $6.3 billion cryptocurrency theft, one of the largest in the industry's history. The attack, which began months earlier, involved malware hidden in software downloads and fake job offers targeting engineers. Employee computers were compromised as a result. Binance has committed to reimbursing affected users and stated that the group responsible is believed to be linked to North Korea, according to the FBI. The company emphasizes that Ng's departure is a personal decision and that the succession plan was established well in advance.
