The crypto exchange’s CFO left to start his own business about a week after hackers siphoned $6.3 billion in assets from the Binance platform.

Yek joined Binance in May, according to his LinkedIn profile. He began his career at Citi, where he was based in Hong Kong and served as an associate in its industrials investment banking segment.

Kaiser “leaves behind a world-class finance team, and I’m grateful for his partnership and support throughout the transition over the past few months,” Yek wrote in a Sunday post announcing the appointment on his LinkedIn page. “I look forward to leading this talented team as we continue to scale responsibly and advance Binance’s mission globally.”

The timing of the CFO’s departure is “suspicious,” especially given lingering questions surrounding internal controls and governance “or lack thereof” at the company, Shawn Cole, president of boutique executive search firm Cowen Partners, told CFO Dive in an email.

It’s unclear how much responsibility the CFO might have had when it comes to managing and safeguarding cyber wallets, Cole said, noting “the answer may lie in traditional banking standards and established accountability and controls for the theft of cash or other financial assets.”

“Regardless, the timing reflects poorly on the CFO and could damage their career prospects, especially with the announcement coming so soon after the breach,” Cole said. “From a corporate communications standpoint, the timing is either remarkably poor or intentional.”

Binance did not immediately respond to requests for comment on the CFO announcement.

Ng, meanwhile, wrote on LinkedIn that “after five years as CFO of Binance, I have decided to go build something of my own.”

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