Binance chief financial officer Kaiser Ng is departing the cryptocurrency exchange, the company confirmed. Co-CEO Yi He said in a statement that Ng's exit will let him pursue a new venture after more than five years at Binance, according to Bloomberg. Yi He also said a transition plan had been put in place over the last half year.
The change in Binance's finance leadership comes barely more than a week after hackers stole $6.3 billion worth of cryptocurrency from Binance users. The exchange froze withdrawals for several days in response. After accounts were unfrozen, users pulled a net $3.6 billion in the first few hours.
Binance and the FBI attributed the hack to a North Korean group called TraderTraitor. The company said it would cover all losses, promising that Binance will bear the financial impact of the stolen funds and that the losses will not be passed on to users.
Ng's departure was announced as the exchange continues to manage the aftermath of the theft, which ranks among the largest described in the source account. The company has said customers will not absorb the cost of the stolen funds.
For US users of Binance, the disclosure follows a period in which the exchange halted withdrawals and then processed a wave of customer exits once access was restored. The company has said the financial burden of the theft falls on Binance rather than on account holders.
Binance has not named a successor to Ng in the source account. Yi He's statement described the transition as planned well before the announcement. The company said the losses from the hack would be absorbed by Binance.
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