Binance announced on Saturday, November 7, that Chief Financial Officer Kaiser Ng would leave, nine days after a $6.3 billion hack attributed to TraderTraitor. Justin Yek, formerly Airwallex’s vice president of finance, will succeed him, while co-CEO Yi He says the transition had been planned for six months. According to Elliptic, the hackers have already converted about $124 million worth of altcoins into bitcoin, but $3.11 billion remains on identified addresses and $470 million is still unaccounted for. Singapore’s monetary authority also reiterated that Binance is not licensed to provide regulated financial services in the country and that cryptocurrency trading is unsuitable for the general public.
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