Binance CFO Kaiser Ng to leave, Justin Yek named successor
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Binance chief financial officer Kaiser Ng is leaving the cryptocurrency exchange, according to a statement from co-CEO Yi He reported by Bloomberg. Yi said Ng's departure will allow him to pursue a new venture after more than five years at Binance, and that a transition plan has been implemented over the last half year. The announcement comes barely more than a week after hackers stole $6.3 billion worth of cryptocurrency from Binance users. The company froze withdrawals for several days, and after 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 all losses, promising that the financial impact of the stolen funds would not be passed on to users. Justin Yek will replace Ng as CFO.
Source report
Binance's chief financial officer Kaiser Ng is leaving the cryptocurrency exchange.
According to Bloomberg, co-CEO Yi He said in a statement that Ng's departure will allow him to "pursue a new venture after more than five years at Binance," and that a transition plan has been "implemented over the last half year."
Departure Follows Major Security Breach
The announcement comes barely more than a week after hackers stole $6.3 billion worth of cryptocurrency from Binance users. The company froze withdrawals for several days; after accounts were unfrozen, users withdrew a net $3.6 billion in the first few hours.
North Korean Group Blamed
Binance and the FBI blamed a North Korean group called TraderTraitor for the hack. The company also said that it would cover all losses, promising, "Binance will bear the financial impact of the stolen funds. These losses will not be passed on to users."
Succession
Ng will be replaced as CFO by Justin Yek.
Source
TechCrunchNeutral / independent