Binance’s chief financial officer is stepping down following a record heist at the world’s biggest cryptocurrency exchange.
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“Kaiser Ng has decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the last six months,” Binance co-CEO Yi He said in a statement, per a Saturday (Nov. 7) Bloomberg News report.
“We wish him the best in his next chapter,” she said, adding that Justin Yek will become the company’s new finance chief.
The news comes days after hackers stole $6.3 billion from Binance in what has been called the largest heist in crypto history. The incident comes as other crypto exchanges have faced serious security incidents, like last year’s $1.5 billion hack of the ByBit exchange.
As Bloomberg noted, the FBI has said North Korea was responsible for the Binance attack. The company has since said it had covered about 90% of the $6.3 billion, making progress on its effort to fully reimburse users.
“But while Binance users are being protected from their immediate losses, the underlying criminal proceeds and the infrastructure enabling their movement remain relatively untouched and their recovery uncertain,” PYMNTS wrote last week.
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