After the billion-dollar breach: Binance's CFO resigns
Binance's CFO, Kaiser Ng, is leaving his position about a week after the largest cyberattack in crypto history, in which coins worth $6.3 billion were stolen. The exchange claims the departure was planned six months ago.
The world's largest cryptocurrency exchange, Binance, announced that its CFO, Kaiser Ng, is leaving his position after more than five years and will be replaced by Justin Yik. The announcement comes about a week after the largest cyberattack in the history of the crypto industry, in which digital coins worth $6.3 billion were stolen. Co-CEO Yi He stated that the departure was planned six months ago, before the breach, and that Ng is moving on to a new venture. The company did not link the departure to the attack. The breach occurred on October 29, when hackers infiltrated systems using a fake job interview and malicious software, stealing coins within about 20 minutes. Companies like Tether and Circle froze assets worth billions of dollars, but some remained out of reach. The FBI attributed the attack to a North Korean hacker group. Binance announced increased investment in threat detection systems, including through artificial intelligence.