Although the Binance CFO resignation came just nine days after hackers made off with more than $6 billion from the exchange, co-CEO Yi He insists the leadership change was actually planned six months in advance. Kaiser Ng is stepping down after more than five years at Binance, with former Airwallex finance executive Justin Yek named as his replacement.

Summary

Key takeaways

  • Justin Yek will succeed Kaiser Ng as Binance’s CFO.
  • Yi He says the six-month transition plan predates the hack.
  • Binance had replaced about 95% of affected assets using its own funds by November 2.

Binance CFO resignation follows a planned transition

Yek will take over the finance role after most recently serving as vice president of finance at payments firm Airwallex. Yi He announced the succession in a statement on November 7, 2026.

Ng has held the CFO position since January 2022 and previously worked at rival crypto exchange Kraken, according to his LinkedIn profile. His departure follows more than five years with Binance.

Record hack drained more than $6 billion

On October 29, 2026, attackers made off with more than $6 billion spread across several blockchains, marking the biggest crypto heist ever recorded. The FBI pointed to TraderTraitor, a hacking group linked to North Korea, as responsible for the breach.

By November 2, Binance had drawn on its own reserves to cover roughly 95% of the assets lost. On that same day, the exchange finished a snapshot of its proof of reserves and resumed processing withdrawals.

Elliptic, a blockchain analytics firm, reported that the attackers later converted the stolen tokens into $124 million worth of bitcoin.

Yi He says Ng is pursuing a new venture

Yi He described the Binance CFO resignation as a planned departure to pursue another venture, with the handover process underway before the theft. Her statement places the transition’s origins months ahead of the October 29 attack, despite the announcement following it by nine days.

Ng “has decided to pursue a new venture,” Yi He said, adding that the transition plan had been implemented over the preceding six months.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.