TLDR
- Binance CFO Kaiser Ng is leaving after more than five years with the company.
- Justin Yek, a former Airwallex finance executive, will take over as CFO.
- Co-CEO Yi He said a transition plan began over the past six months.
- Hackers stole more than $6 billion from Binance on Oct. 29, per Bloomberg.
- Binance has replenished about 95% of affected assets and restored withdrawals.
Binance has said its chief financial officer, Kaiser Ng, is leaving the company. The world’s biggest crypto exchange shared the news on Saturday, Nov. 7. It came nine days after a record hack on the platform.
🔥LATEST: Binance names Justin Yek as its next CFO nine days after the record $6.34 BILLION hack.
Co-CEO Yi He says the transition had been underway for six months.
Outgoing CFO Kaiser Ng is leaving to “pursue a new venture” after more than five years at Binance. pic.twitter.com/OmpSxKt9wY
— Coin Bureau (@coinbureau) November 8, 2026
Justin Yek will take over as CFO. He was most recently vice president of finance at payments firm Airwallex. Reuters described him as a longtime finance executive.
What Binance Said About the Change
Co-CEO Yi He announced the change in a statement. The statement said Ng “has decided to pursue a new venture” after more than five years at Binance. Bloomberg and Reuters both reported the news.
The statement also said a transition plan had been put in place over the last six months. That means the plan began well before the Oct. 29 hack. Bloomberg reported the same six-month timeline.
The statement did not say when Ng’s departure takes effect. It also did not say what his next venture will be. Both details have not been announced.
Ng has been Binance CFO since January 2022. His LinkedIn profile shows he previously worked at rival exchange Kraken. The company said his total time at Binance is more than five years.
The announcement came just over a week after the hack. Hackers drained Binance across multiple blockchains on Oct. 29. Reuters called it a record heist.
How the Hack Unfolded
Attackers took more than $6 billion from Binance, according to Bloomberg. Reuters put the figure at $6.3 billion. It is the largest crypto theft on record.
Binance said the attack began months earlier. It started with the compromise of several employees’ computers. Reuters called the attack sophisticated.
The company said the breach started with malware hidden in software downloads. Fake job recruitment efforts also targeted its engineers. The theft itself took place on Oct. 29.
The FBI has attributed the attack to TraderTraitor, a North Korean hacking group. Pyongyang has denied the allegation. Binance has said it will fully reimburse affected customers.
As of Nov. 2, Binance had replenished about 95% of the affected assets with its own funds. The Block reported the figure. That update came on the same day the exchange completed a proof of reserves snapshot.
After the snapshot, Binance began restoring withdrawals. The Block reported both steps. They came just days after the theft.
Since the hack, the attackers have swapped stolen tokens for $124 million in bitcoin. Blockchain analytics firm Elliptic reported that figure. The swaps have taken place since the Oct. 29 theft.
Ng and Yek both come from other finance firms. Ng previously worked at Kraken, while Yek comes from Airwallex. Yi He’s statement on Saturday confirmed Yek as the new CFO.
