Binance co-CEO Yi He announced that Chief Financial Officer Kaiser Ng is leaving the exchange days after a cyberattack stole assets valued at $6.3 billion. (Foto: Instagram)
Binance co-CEO Yi He announced Saturday, Nov. 7, that Chief Financial Officer Kaiser Ng is leaving the cryptocurrency exchange. The departure comes days after hackers stole assets valued at $6.3 billion from the platform in an attack that lasted about 20 minutes.
In a statement, He said Ng had decided to pursue a new path after more than five years at Binance. She added that a transition plan had been in place over the previous six months.
Binance said an initial investigation suggests the incident may have involved an engineer’s laptop being compromised. The breach may have allowed an attacker to gain access and make unauthorized withdrawals. The attack was initially attributed to a North Korean hacking group, an allegation North Korea denies.
Binance said it would cover all losses using funds from its Secure Asset Fund for Users, known as SAFU, as well as the company’s own resources. The exchange created SAFU as an emergency reserve to protect customer assets in extreme situations, including security failures and cyberattacks.
