Binance’s finance chief Kaiser Ng to leave company, report says

Binance’s finance chief Kaiser Ng is ​reportedly leaving that company to pursue a new venture.

“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 ​said in a statement obtained by Reuters on Saturday. 

Ng’s LinkedIn profile says he has been Binance’s chief financial officer since January ⁠2022 ​and before that served in the same capacity at crypto exchange Kraken for about five years.

He will be replaced by Justin Yek, who was formerly vice-president of finance at Airwallex, according to the report.

The news comes a little more than a week after Binance was hacked for a record $6.3 billion.

Cointelegraph reported that hackers stole about $6.3 billion from Binance on Oct. 29, in the largest cryptocurrency theft on record. Binance said it would absorb the losses rather than pass them on to customers.

The attack has been attributed to North Korean hackers by the FBI and several researchers, a charge that country has denied.

Magazine: Asian crypto exchanges batten down the hatches as hacks surge: Asia Express