Binance has named Justin Yek as its next chief financial officer as Kaiser Ng prepares to leave the crypto exchange, according to a statement from co-CEO Yi He reported by Bloomberg on Nov. 7.

“Kaiser Ng has decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the last six months,” He said in the statement. “We wish him the best in his next chapter.”

The announcement comes just over a week after the Oct. 29 theft, which Binance says affected approximately $6.34 billion in digital assets. The six-month transition described by He predates the theft; her statement attributes Ng's departure to his decision to pursue a new venture.

Yek previously led finance at Airwallex and worked as a technology investment banker at Morgan Stanley and Citi, according to his personal biography. Airwallex's announcement of his arrival in 2023 identified his initial role as head of strategic finance and corporate development.

The finance handover comes as Binance works to replace stolen assets and restore customer access. In its Nov. 3 incident report, the exchange said it would absorb the financial impact rather than pass it to users. It said approximately $2.85 billion in assets had been frozen or intercepted, subject to reconciliation and market-price changes. Frozen assets are distinct from funds returned to the exchange.

Binance also reported approximately $3.64 billion in net outflows during the first nine and a half hours of its phased withdrawal reopening on Nov. 1. That comprised $4.649 billion in withdrawals against $1.01 billion in deposits. The company said withdrawal volumes had declined after an initial spike.

The exchange has been expanding its reserve disclosures alongside the reopening. A Nov. 6 withdrawal notice said additional assets would become available progressively after security checks, and directed customers to check availability for their specific asset and network.