Binance CFO is leaving to 'pursue a new venture' after $6.3 billion hack
News Source
β’Sat, 07 Nov 2026 17:24:07 +0000
π° What Happened
Binance's chief financial officer, Kaiser Ng, is leaving the crypto exchange after more than five years. The company said a handover plan had been in place for six months. Justin Yek will take the job.
The move comes just over a week after hackers stole $6.3bn in crypto from Binance users. Withdrawals were frozen for days. When they reopened, users pulled out $3.6bn in a few hours.
π The Backstory
Binance and the FBI blamed a North Korean group known as TraderTraitor. Security researchers had warned about its methods years before the attack. Binance says it will cover all losses itself and not pass them to users.
Binance is one of the largest crypto exchanges in the world. Big staff changes after a hack are common, as firms try to show they are fixing weak spots.
π― Why It Matters
A hack this large shakes trust in crypto. If a top exchange can lose billions, small investors learn how fast their money can be frozen.
Binance's chief financial officer, Kaiser Ng, is leaving the crypto exchange after more than five years. The company said a handover plan had been in place for six months. Justin Yek will take the job.
The move comes just over a week after hackers stole $6.3bn in crypto from Binance users. Withdrawals were frozen for days. When they reopened, users pulled out $3.6bn in a few hours.
Binance and the FBI blamed a North Korean group known as TraderTraitor. Security researchers had warned about its methods years before the attack. Binance says it will cover all losses itself and not pass them to users.
Binance is one of the largest crypto exchanges in the world. Big staff changes after a hack are common, as firms try to show they are fixing weak spots.
A hack this large shakes trust in crypto. If a top exchange can lose billions, small investors learn how fast their money can be frozen.