Kaiser Ng Steps Down as Binance CFO, Sources Confirm
Justin Yek, previously holding the position of finance vice-president at Airwallex, will take over the role.
The chief financial officer of Binance, Kaiser Ng, is departing from the cryptocurrency exchange to embark on a new business endeavor, according to reports.
"After spending more than five years with Binance, Kaiser Ng has made the decision to pursue a new venture, with a transition strategy that has been in place for the past six months," stated Binance co-CEO Yi He in remarks shared with Reuters on Saturday.
According to Ng's LinkedIn profile, he has held the position of chief financial officer at Binance since January 2022, and prior to joining the company, he occupied the same role at cryptocurrency exchange Kraken for approximately five years.
Justin Yek, who previously held the position of vice-president of finance at Airwallex, will step into the role as his replacement, the report indicates.
This development arrives slightly more than one week following a massive security breach at Binance that resulted in losses of $6.3 billion, setting a new record.
According to Cointelegraph's coverage, cybercriminals made off with approximately $6.3 billion from Binance on Oct. 29, marking it as the biggest cryptocurrency heist in history. The exchange announced its decision to absorb the financial losses internally instead of transferring them to its customer base.
North Korean hackers have been identified as the perpetrators of the breach by the FBI along with multiple security researchers, an accusation that the nation has refuted.