Binance CFO Kaiser Ng Leaves Company After Record Hack
Kaiser Ng steps down as Binance CFO after $6.3 billion hack
In this article
Binance CFO departure
According to Reuters, Binance CFO Kaiser Ng is leaving the company to pursue a new venture 1. Ng has been with Binance for over five years, serving as chief financial officer since January 2022 1. He will be replaced by Justin Yek, who was formerly vice-president of finance at Airwallex 1. The transition plan has been in place for the past six months, according to co-CEO Yi He 2.
Ng's departure comes after a record $6.3 billion hack on Binance, which occurred on October 29 1. The hack has been attributed to North Korean hackers by the FBI and several researchers 1. Binance has said it will absorb the losses rather than pass them on to customers 1.
The news of Ng's departure was reported by several outlets, including Bloomberg and Investing.com 45. Justin Yek has been named as the new finance chief, and he will lead the company's finance organization 6. Yek said he is excited to assume the role and looks forward to leading the finance department 6.
Kaiser Ng steps down as Binance CFO after $6.3 billion hack
Record hack aftermath
The record $6.3 billion hack on Binance has been attributed to North Korean hackers by the FBI and several researchers 1. Binance has said it will absorb the losses rather than pass them on to customers 1. The company has also said it has covered approximately 90% of the $6.3 billion 6.
Recently, the breach unfolded on October 29 and began with malware hidden in software downloads and fake job recruitment efforts targeting engineers 6. The FBI stated on October 31 that North Korea was responsible for the attack on Binance 6. North Korea has denied the allegation 1.
Assets valued at around $2.85 billion were frozen or intercepted and nearly 98% of the assets affected were restored as of October 31 6. Co-CEO Yi He wished Ng all the best in his new chapter a few days after the company made this statement 6. Concerns about the security of cryptocurrency exchanges have been raised 1.
New finance chief
Justin Yek has been named as the new finance chief of Binance, replacing Kaiser Ng 6. Yek was formerly vice-president of finance at Airwallex 1. He said he is excited to assume the role and looks forward to leading the finance department 6.
Following this development, Yek will lead the finance organization 4. Co-CEO Yi He stated that the transition plan had been in place for the past six months 2. Yek's appointment follows the hack, which occurred a short time ago 1.
Yek's experience at Airwallex will likely be valuable in his new role at Binance 1. The company is looking to grow responsibly and fulfill its mission globally 6. Yek said he looks forward to leading the finance department as the company continues to grow 6.
What it means for readers
Kaiser Ng's departure and Justin Yek's appointment as the new finance chief may have implications for customers 1. Customers' losses will be absorbed 1. They can expect the business to continue operating as usual 6.
Meanwhile, the news of Ng's departure and Yek's appointment may affect the price of Bitcoin and other cryptocurrencies 5. However, the prices of Bitcoin and Ether were relatively stable at $75,888.00 and $2,237.89, respectively, as of November 8 7.
Many investors are concerned about the security of cryptocurrency exchanges 1. Questions have been raised about the security measures in place 1. The mission to grow responsibly and fulfill its mission globally remains a commitment 6.
What isn't known yet
It is not clear what specific security measures Binance will implement to prevent future hacks 1. The company has said it will absorb the losses from the record $6.3 billion hack, but it is not clear how this will affect its financials 1.
Ultimately, the investigation into the hack is ongoing, and the outcome remains uncertain 1. North Korea has denied the FBI's allegation that they were responsible for the hack 1.
The hack's impact on the cryptocurrency market as a whole remains to be seen 1. Bitcoin and Ether prices were relatively stable as of November 8, but long-term market reactions are uncertain 7.
Frequently asked questions
Who is the new finance chief of Binance?
Justin Yek, formerly of Airwallex, has been named as the new finance chief of Binance 6.
What was the amount of the record hack on Binance?
The record hack on Binance was $6.3 billion 1.
Will Binance customers be affected by the departure of Kaiser Ng?
The company has said it will absorb the losses from the record $6.3 billion hack, and customers can expect the company to continue to operate as usual 6.
About this article
Our system reads Bitcoin, Ethereum, crypto markets, regulation and DeFi coverage from established publishers every hour. A story is only written when at least three independent outlets report it. Every figure must appear in a cited source, and each draft passes automated checks for accuracy, originality and readability. Drafts that score highly on every check publish automatically; the rest wait for a human editor. Drafted with AI assistance from the sources listed. Not financial or professional advice.
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- cointelegraph.com: Binance’s finance chief Kaiser Ng to leave company, report says · Nov 8, 2026 ET
- theblock.co: Binance CFO steps down nine days after record hack; co-CEO says transition was planned six months ago · Nov 7, 2026 ET
- Reuters: Binance CFO Kaiser Ng steps down, Justin Yek named new finance chief · Nov 7, 2026 ET
- Bloomberg: Binance Says Kaiser Ng Leaving, Names Justin Yek New CFO · Nov 7, 2026 ET
- Investing.com: Binance CFO exits days after catastrophic $6 billion crypto hack · Nov 7, 2026 ET
- NewsCord: Binance CFO Kaiser Ng Resigns After $6.3 Billion Hack, Justin Yek Named Finance Chief: 18 outlets compared · Nov 8, 2026 ET
- CoinGecko market data (delayed): Bitcoin and Ether prices at Nov 08, 2026 07:00 ET · Nov 8, 2026 ET
