Binance Finance Chief Kaiser Ng Leaves Nine Days After $6.34 Billion Hack

Highlights:

• Binance says CFO Kaiser Ng will leave after more than five years, with Justin Yek replacing him.
• Co-CEO Yi He says the company began planning the leadership change six months before the announcement.
• Binance says it has replenished 98% of affected tokens following the October 29 cryptocurrency theft.

Binance Chief Financial Officer (CFO) Kaiser Ng is leaving the cryptocurrency exchange after more than five years, with Justin Yek named as his replacement. The company announced the change on November 7, just nine days after hackers stole approximately $6.34 billion in digital assets. However, Binance says it had planned Ng’s departure months before the attack.

According to a November 7 Reuters report, Binance co-CEO Yi He confirmed that Ng would leave to pursue another business opportunity. She also said the company had been preparing for the leadership change for the past six months.

🔥LATEST: Binance names Justin Yek as its next CFO nine days after the record $6.34 BILLION hack.

Co-CEO Yi He says the transition had been underway for six months.

Outgoing CFO Kaiser Ng is leaving to “pursue a new venture” after more than five years at Binance. pic.twitter.com/OmpSxKt9wY

— Coin Bureau (@coinbureau) November 8, 2026

Binance Says CFO Departure Was Planned Six Months Ago

Yi He said Ng had decided to move on after spending more than five years at Binance. “Kaiser Ng has decided to pursue a new venture after more than five years at Binance,” she said. According to Yi He, Binance began preparing for the transition about six months ago, well before the October 29 security breach. The company has not linked his departure to the hack.

Ng joined Binance more than five years ago and became CFO in January 2022. Before joining the exchange, he worked at rival cryptocurrency platform Kraken. Binance has not disclosed details about Ng’s next venture or confirmed the exact date of his departure.

Justin Yek to Replace Kaiser Ng as Binance CFO

Binance has appointed Justin Yek to take over its financial operations following Ng’s departure. Yek most recently served as vice president of finance at Airwallex, a global financial technology and payments company. He brings extensive experience in corporate finance and financial services.

His appointment comes as Binance continues dealing with the financial impact of the largest cryptocurrency theft on record. Although the timing has drawn attention, Binance maintains that the CFO transition was already underway before the attack.

Binance Continues Recovery From $6.34 Billion Hack

The leadership change follows the October 29 cyberattack, when hackers stole approximately $6.34 billion in digital assets from Binance. In its November 3 investigation update, Binance said the attackers had compromised employees’ computers and gained unauthorized access to internal systems. The FBI later attributed the theft to North Korea’s TraderTraitor hacking group, an allegation Pyongyang has denied.

Binance has promised to cover the losses using company funds rather than passing them on to customers. In a November 4 official update, the exchange said it had replenished approximately 98% of the affected assets. It also set aside enough funds to cover the full loss and continued purchasing the remaining tokens through market and over-the-counter channels.

The company also expanded its Proof of Reserves snapshot from 10 to 44 tokens. Yek will now take over the finance department as Binance continues restoring affected assets and strengthening its security systems.

Meanwhile, blockchain analytics firm Elliptic reported that hackers moved stolen Binance funds through more than 20,000 wallets across 16 blockchains. The firm said approximately $2.85 billion had been frozen or seized, while $3.13 billion remained in addresses linked to the theft.

The Binance hackers have swapped about $175 million in stolen altcoins into roughly 2,300 bitcoin, according to Elliptic.

The laundering spans 16 blockchains, more than 20,000 wallets and 65,000 transactions. Elliptic's count was $124 million a day earlier.

— TFTC (@TFTC21) November 7, 2026