Binance chief financial officer Kaiser Ng is leaving the company just over a week after hackers stole $6.3 billion in cryptocurrency from the exchange’s users, according to TechCrunch. Justin Yek will replace him. Co-CEO Yi He said, as relayed by Bloomberg, that Ng is leaving to pursue a new venture after more than five years at Binance, and the company says a transition plan had been in place for the past six months.
Binance and the FBI have attributed the theft to a North Korean group called TraderTraitor. CNBC reported on November 3 that co-CEO Richard Teng said the attackers used fake job interviews and an AI tool to get in. Binance froze withdrawals for several days, and after accounts were unfrozen, users withdrew a net $3.6 billion within the first few hours.
Binance says it will cover the losses, so users will not bear the financial impact. The reporting describes no recovery of the stolen funds and gives no further detail beyond that commitment.