Binance CFO Kaiser Ng is departing the cryptocurrency exchange to pursue a new venture after more than five years at the company. Co-CEO Yi He said in a statement that a transition plan has been in place for the last six months. Justin Yek will replace Ng as CFO.
The announcement arrives just over a week after hackers stole $6.3 billion worth of cryptocurrency from Binance users. Binance and the FBI attributed the breach to a North Korean group called TraderTraitor. The company froze withdrawals for several days and said it would cover all losses, stating "Binance will bear the financial impact of the stolen funds. These losses will not be passed on to users." After accounts were unfrozen, users withdrew a net $3.6 billion in the first few hours.