Binance Finance Chief Kaiser Ng Reportedly Departs for New Venture
Kaiser Ng, Binance’s chief financial officer, is reportedly leaving the cryptocurrency exchange to embark on a new professional endeavor. The move comes after more than five years with the company.
“Kaiser Ng has decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the last half year,” Binance co-CEO Yi He stated in a release obtained by Reuters on Saturday.
Ng’s LinkedIn profile indicates he has held the position of Chief Financial Officer at Binance since January 2022. Prior to his tenure at Binance, he served in a similar capacity at crypto exchange Kraken for approximately five years.
He is set to be succeeded by Justin Yek, who previously served as Vice President of Finance at Airwallex, according to reports.
This departure follows closely on the heels of a significant security breach at Binance, which saw approximately $6.3 billion stolen in what is being described as a record-breaking cryptocurrency theft. Cointelegraph reported the incident occurred on October 29th. Binance has stated it will absorb the financial losses rather than pass them on to its customers.
The FBI and several researchers have attributed the attack to North Korean hackers, an accusation that the country has denied.
The broader trend of increasing hacks has prompted Asian crypto exchanges to bolster their security measures, as highlighted in a recent report by Asia Express.
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