Binance has confirmed that Kaiser Ng is leaving his role as chief financial officer after more than five years with the company, and that Justin Yek — most recently vice president of finance at payments firm Airwallex — will take over as CFO. The world's biggest crypto exchange shared the news on Saturday, Nov. 7, nine days after a record-setting hack struck the platform. According to the company, Ng is departing to pursue a new venture.

🔥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

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What Binance Said About the Change

Co-CEO Yi He announced the management change in a statement, saying that Ng “has decided to pursue a new venture” after more than five years at Binance. Both Bloomberg and Reuters reported the news.

The statement also said a transition plan had been put in place over the last six months, meaning the succession process began well before the Oct. 29 hack. Bloomberg reported the same six-month timeline, and by the company's account the planning predated the security incident. The statement did not say when Ng's departure takes effect, nor did it disclose what his next venture will be; neither detail has been announced.

Ng has been Binance's CFO since January 2022. His LinkedIn profile shows he previously worked at rival exchange Kraken, and the company said his total time at Binance is more than five years. Yek, whom Reuters described as a longtime finance executive, was most recently vice president of finance at Airwallex. He takes over the finance chief seat at the world's biggest crypto exchange as Binance continues to manage the aftermath of the breach, a recovery the company is covering from its own funds.

How the Hack Unfolded

The CFO announcement came just over a week after the security breach. On Oct. 29, hackers drained funds from Binance across multiple blockchains in what Reuters called a record heist. According to Bloomberg, the attackers took more than $6 billion from the exchange, while Reuters put the figure at $6.3 billion — the largest crypto theft on record.

Binance said the intrusion began months earlier, starting with the compromise of several employees' computers. The company said the breach started with malware hidden in software downloads, and that fake job recruitment efforts also targeted its engineers. Reuters described the attack as sophisticated. The theft itself took place on Oct. 29.

The FBI has attributed the attack to TraderTraitor, a North Korean hacking group. Pyongyang has denied the allegation.

Customer Reimbursement and Recovery

Binance has said it will fully reimburse all affected customers. As of Nov. 2, the exchange had already replenished about 95% of the affected assets using its own funds, according to The Block. That update came on the same day Binance completed a proof of reserves snapshot. After completing the snapshot, the exchange began restoring customer withdrawals — steps The Block reported were taken just days after the theft.

Meanwhile, blockchain analytics firm Elliptic reported that since the Oct. 29 theft, the attackers have swapped stolen tokens for $124 million in bitcoin — a fraction of the roughly $6.3 billion taken.

Yi He's statement on Saturday confirmed Yek as the new CFO. Both the outgoing and incoming finance chiefs joined Binance from other finance firms: Ng previously worked at Kraken, while Yek comes from Airwallex. From here, the watch points are concrete: full completion of the pledged reimbursements, further movement of the stolen funds as analytics firms track them, and the still-open details of Ng's exit.