Binance CFO Kaiser Ng Departs After $6.3 Billion Crypto Hack
Kaiser Ng, chief financial officer of the cryptocurrency exchange Binance, is leaving to pursue a new venture. His exit comes just over a week after hackers stole $6.3 billion in cryptocurrency from the platform's users.
Binance, a cryptocurrency exchange, has announced that its chief financial officer, Kaiser Ng, is leaving the company, Bloomberg reports. Justin Yek will take over as CFO.
In a statement, Binance co-CEO Yi He said the departure will let Ng pursue a new venture after more than five years at the exchange. She added that a transition plan had been implemented over the past six months.
Exit follows the hack
The announcement comes barely more than a week after hackers stole cryptocurrency worth $6.3 billion from Binance users. The company froze withdrawals for several days. Once accounts were unfrozen, users withdrew a net $3.6 billion within the first few hours.
Binance and the US Federal Bureau of Investigation (FBI) have blamed a North Korean group called TraderTraitor for the attack. The company has said it will cover all losses, stating that it will bear the financial impact of the stolen funds and that the losses will not be passed on to users.
The source does not say whether Ng's departure is connected to the hack; the company presents it as a planned move to a new venture.
