started · updated
Binance replaces CFO Kaiser Ng following $6.3 billion crypto hack
Binance Holdings Ltd. has announced that Chief Financial Officer Kaiser Ng is stepping down to pursue a new venture. The leadership change comes days after the cryptocurrency exchange suffered a massive security breach in which hackers stole approximately $6.3 billion in digital assets.
Binance co-CEO Yi He stated that Ng’s departure was part of a planned transition that had been underway for the previous six months, suggesting the move was not a direct response to the recent theft. Ng, who joined Binance in January 2022 after five years at Kraken, will be succeeded by Justin Yek, a former finance executive at the fintech company Airwallex.
The FBI and third-party security firms have attributed the October 29 cyberattack to North Korean hackers, specifically the group TraderTraitor. In response to the breach, Binance reported that it has covered approximately 90 percent of the stolen funds using its own assets to fulfill its commitment to reimburse customers.
Entities
Banco Central do Brasil · Binance · Central Bank of Brazil · Chainalysis · FBI · Justin Yek · Kaiser Ng · Mercado Livre · Mercado Pago · Nubank · Paxos Trust · Yi He
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 13 SOURCES] The FBI attributed the Binance hack to North Korea. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +6 more
- [● 13 SOURCES] The transition plan for the CFO role was implemented over the last six months. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +6 more
- [● 13 SOURCES] Hackers stole $6.3 billion in cryptocurrency from Binance. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +6 more
- [● 8 SOURCES] Binance has covered approximately 90 percent of the stolen funds. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +3 more
- [● 13 SOURCES] Kaiser Ng is leaving his position as CFO of Binance. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +6 more
- [● 12 SOURCES] Kaiser Ng joined Binance in January 2022. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +5 more
- [● 13 SOURCES] Justin Yek will succeed Kaiser Ng as CFO. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +6 more
- [● 12 SOURCES] Justin Yek previously served as Vice President of Finance at Airwallex. www.elespectador.com · biznis.telegraf.rs · www.blocktempo.com · financefeeds.com · www.in.gr · +5 more