Binance CFO steps down nine days after record hack; co-CEO says transition was planned six months ago

After over five years at Binance, Kaiser Ng is leaving to "pursue a new venture." The firm's co-CEO said a transition plan had been in place for six months, which is long before the recent hack.

Business•November 7, 2026, 4:57PM EST
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Quick Take

  • Binance CFO Kaiser Ng is leaving the exchange and will be replaced by Justin Yek, a former finance executive at payments firm Airwallex.
  • Co-CEO Yi He said Ng is departing to pursue a new venture, under a transition plan put in place over the past six months.
  • The change comes nine days after hackers stole more than $6 billion from Binance in the largest crypto theft on record.

Binance Chief Financial Officer Kaiser Ng is stepping down and will be replaced by Justin Yek, a former finance executive at payments firm Airwallex, Binance co-CEO Yi He said in a statement on Saturday, Bloomberg reported.

Yi He said Ng "has decided to pursue a new venture" after more than five years at the company, and that a transition plan had been implemented over the past half year, according to Reuters. The statement did not say when Ng's departure takes effect or what his next venture is.

Ng has served as Binance's CFO since January 2022 and previously worked at rival exchange Kraken, according to his LinkedIn profile. Yek was most recently vice president of finance at payments firm Airwallex.

The announcement comes nine days after the Oct. 29 hack, in which attackers drained more than $6 billion from Binance across multiple blockchains. The FBI has attributed the attack to TraderTraitor, a North Korean hacking group.

Binance had replenished about 95% of the affected assets with its own funds as of Nov. 2, when it completed a proof of reserves snapshot and began restoring withdrawals, The Block reported. The hackers have since swapped stolen tokens for $124 million in bitcoin, according to blockchain analytics firm Elliptic.