Binance Holdings Ltd., the world’s largest cryptocurrency exchange, has announced the departure of its Chief Financial Officer, Kaiser Ng.
The announcement came days after hackers stole about $6.3 billion in digital assets from the platform.
The company confirmed that Ng, who has spent more than five years with Binance, will be replaced by Justin Yek, a former finance executive at the payments company Airwallex.
Bloomberg reported that Binance co-Chief Executive Officer Yi He disclosed the leadership change in a statement on Saturday, November 7, 2026.
The announcement follows what has been described as the largest cryptocurrency theft in history. It has raised fresh concerns about cybersecurity vulnerabilities across global digital asset exchanges.
The United States Federal Bureau of Investigation (FBI) has attributed the attack to North Korean hackers.
Yi He explained that Ng’s departure followed a transition process that had been underway for six months. This indicates that the leadership change was planned before the recent security breach.
She said, “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.”
According to his LinkedIn profile, Ng joined Binance in January 2022, after spending about five years at rival cryptocurrency exchange Kraken.
His successor, Justin Yek, most recently served as vice-president of finance at Airwallex, a global financial technology company.
Yek said he looked forward to overseeing Binance’s financial operations as the company continues its international expansion.
The leadership transition comes as Binance works to recover from the unprecedented cyberattack, which led to the theft of roughly $6.3 billion in cryptocurrency.
On October 31, the FBI named North Korea as responsible for the attack. This added to concerns about state-linked cybercriminal activities targeting digital asset platforms.
Binance subsequently disclosed that it had covered about 90 per cent of the stolen funds, as part of its commitment to reimburse affected customers fully.
The incident highlights the growing security challenges facing cryptocurrency exchanges as digital assets gain wider adoption among institutional and retail investors.
Other major exchanges, including Bybit and Bitget, have also experienced cybersecurity incidents. These underscore the risks associated with storing and transferring digital assets.
The leadership change comes as Binance continues efforts to restore operations after the cyberattack, while also navigating regulatory challenges in several markets, including Nigeria.
On November 1, 2026, Binance began restoring cryptocurrency withdrawals in phases following the $6.3 billion breach.
The attack surpassed the $1.5 billion Bybit hack recorded in February 2025, which was also attributed to North Korean hackers.
In September 2025, Binance founder Changpeng Zhao warned about the methods North Korean hackers use to infiltrate cryptocurrency exchanges. He identified fake job interviews, malicious software and attempts to gain insider access as some of the tactics employed.
In Nigeria, Binance remains involved in legal proceedings over its operations. In April 2026, Nairametrics reported that the Central Bank of Nigeria had concluded its testimony in a case involving allegations that Binance operated in the country without authorisation. Binance has denied the allegations.
More recently, Nigeria’s Securities and Exchange Commission clarified that no digital asset operator had secured final registration under its Accelerated Regulatory Incubation Programme. This is despite some platforms receiving conditional approvals in principle.
