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Binance CFO is leaving to 'pursue a new venture' after $6.3 billion hack
TechCrunch • • business
Key Points:
- Binance’s CFO Kaiser Ng is departing after more than five years, with a transition plan in place for his replacement by Justin Yek.
- The announcement follows a recent $6.3 billion cryptocurrency hack affecting Binance users, leading to a temporary freeze on withdrawals.
- Binance and the FBI attributed the hack to a North Korean group named TraderTraitor, with Binance committing to cover all losses without passing them on to users.
- After the account freeze was lifted, users withdrew a net $3.6 billion in the initial hours, reflecting high market activity post-hack.
