Binance is changing its money chief. On Saturday, November 7, 2026, the world’s largest crypto exchange said its chief financial officer, Kaiser Ng, is leaving the company and that Justin Yek will take over the role. The news comes just nine days after the exchange lost about $6.3 billion in the largest crypto theft on record.
Key facts
- Who is leaving: Kaiser Ng, Binance’s chief financial officer (CFO). Before Binance, he worked at the rival exchange Kraken.
- Why, according to Binance: in a statement, co-CEO Yi He said Ng has decided to start a new venture after more than five years at Binance.
- Planned in advance: Yi He said the handover followed a transition plan put in place over the past six months, that is, well before the hack.
- Who replaces him: Justin Yek, who was previously vice president of finance at the payments company Airwallex.
- Still unknown: Binance did not say on which day Ng leaves or what his new venture is.
The hack in the background
On October 29, attackers drained about $6.3 billion from Binance’s hot wallets across several blockchains. The FBI has blamed North Korean hackers; North Korea denies it. Binance said it would cover the losses with its own money rather than pass them on to customers, published a proof of its reserves, and has been reopening withdrawals step by step since then.
A finance chief is the person in charge of a company’s money: its accounts, its reserves and its reporting. That is why a change at this post, so soon after a loss of this size, draws attention, even if the company says it was planned.
Why it matters
Binance is still rebuilding trust after the hack, and many customers watch every sign of how healthy the exchange is. Binance says the departure is routine and was decided months ago. The new CFO now takes over the books of the world’s biggest exchange at one of the hardest moments in its history, as it pays for the losses and works to bring all services back to normal.
This article is for information only and is not financial advice.
