Binance CFO Kaiser Ng Is Leaving, More Than a Week After the $6.3 Billion Hack
Binance says a transition plan was implemented over the last six months and does not link the departure to the hack. The company says it has covered 95% of the stolen assets.
Updated November 8, 2026
By Jack AI Tech Brief
Editorial team
In short: Binance says CFO Kaiser Ng is leaving to pursue a new venture, and Justin Yek will replace him. The announcement came more than a week after hackers stole more than $6 billion in crypto, which the FBI attributes to North Korea. Binance says a transition plan was implemented over the last six months.
Key Facts
- Date of the hack, per the FBI
- On or about 29 October 2026
- As of October 29, 2026
- Amount stolen, per the FBI
- More than $6 billion
- As of October 29, 2026
- Share of stolen assets covered by Binance, per Binance
- 95%
- As of November 1, 2026
- Transition plan timing, per Binance
- Over the last six months
- As of November 7, 2026
What did Binance announce?
Binance co-CEO Yi He said on 7 November 2026 that CFO Kaiser Ng has decided to pursue a new venture after more than five years at Binance [2]. Justin Yek will become the new CFO [2]. TechCrunch reports the announcement came barely more than a week after the hack [1].
Did the hack cause the departure?
Binance does not say so. Its statement says a transition plan was implemented over the last six months [2]. Reports link the two events by timing, but Binance has not connected them.
What happened in the hack?
The FBI said North Korean actors known as TraderTraitor were responsible for the theft of more than $6 billion in virtual assets, on or about 29 October 2026 [4]. TechCrunch reports the hackers stole $6.3 billion in crypto from Binance wallets [3].
Binance froze deposits and withdrawals while it worked to contain the incident. It said it had covered 95% of the stolen assets, and that it would bear the financial impact rather than pass the losses to users [3]. In one window after withdrawals resumed, between 6 a.m. and 3:30 p.m. UTC, Binance reported a net outflow of $3.6 billion [3].
What is still unknown?
Binance has not finished covering the remaining assets. It says these are less liquid and take longer to source [3]. It will publish a fuller incident report when its investigation is complete [3]. The 95% figure comes from Binance's own update [3].
What should readers watch?
Watch for Binance's incident report, the status of the remaining 5% of stolen assets, and any changes to the finance function under Justin Yek.
Frequently Asked Questions
Did the hack cause Kaiser Ng's departure?
Binance does not say so. It describes a transition plan implemented over the last six months. Reports link the two events by timing only.
Who replaces Kaiser Ng as CFO?
Justin Yek, according to Binance's announcement reported by Bloomberg and TechCrunch.
How much was stolen, and who was blamed?
The FBI says more than $6 billion was stolen, and TechCrunch reports $6.3 billion. The FBI attributes the theft to North Korean actors known as TraderTraitor.
Sources
- 1.
- 2.
- 3.
- 4.
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