Binance CFO Kaiser Ng to leave after $6.3 billion hack

He said Ng’s departure followed more than five years at Binance and that a transition plan had been implemented over the past six months. Justin Yek will replace Ng as CFO.

Binance froze withdrawals for several days after the theft. Once accounts were unfrozen, users withdrew a net $3.6 billion in the first few hours. Binance and the FBI blamed a North Korean group called TraderTraitor for the hack.

The company said it would cover the losses, stating: “Binance will bear the financial impact of the stolen funds. These losses will not be passed on to users.”