nuNov 7, 2026, 18:20

Binance announces departure of CFO after largest crypto hack ever

Binance has announced the departure of CFO Kaiser Ng, who will be succeeded by Justin Yek following a planned transition. This shift follows the largest cryptocurrency hack in history, in which approximately 6 billion dollars was stolen by a group the FBI links to North Korea.

Binance has officially announced that Chief Financial Officer Kaiser Ng is stepping down after a tenure of more than five years. According to the company, the leadership transition has been carefully planned over the past six months, with Justin Yek appointed as his successor to take over the financial operations of the cryptocurrency exchange.

This personnel change occurs in the shadow of the largest cryptocurrency theft in history, which saw approximately 6 billion dollars in assets stolen in just twenty minutes at the end of October. The FBI has attributed the massive breach to TraderTraitor, a hacking group linked to the North Korean government. While North Korean officials have formally denied these accusations and criticized the FBI for its characterization of the state, the incident surpasses the previous record theft from Bybit earlier in 2025. Investigations into the scale and impact of the Binance hack remain ongoing as the industry addresses the security implications.

Economy Business Technology

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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