As of today, November 8, 2026, the situation at Binance is generally stable, but an important management-level development has emerged: the chief financial officer (CFO) is leaving the position about a week after the incident. User compensation remains at 98%, withdrawals are continuing, and major obligations are being met.
📌 Today’s key news: CFO change
· CFO leaves: Binance confirmed that CFO Kaiser Ng, who had worked at the company for more than five years, is leaving, and Justin Yek is taking his place.
· Official position: Binance co-CEO Yi He stated that the handover had been planned over the past six months and was not directly related to the hacking incident; Ng is leaving to pursue his own career plans. However, the timing of his departure did coincide with a period when Binance is facing security concerns and outflows, drawing market attention.
✅ Operational status: compensation and withdrawals
· Compensation remains at 98%: According to official Binance data, as of November 3, about 98% of the affected tokens had already been replenished. The remaining 2% consists of low-liquidity assets that take longer to acquire. Binance emphasizes that it has reserved funds exceeding 100% of the losses and that users will not incur any losses.
· Withdrawals continue: Since November 6, Binance has enabled withdrawals for additional assets on the BSC, BASE, ETH, OPTIMISM, MATIC, ARBITRUM, AVAXC, TRX, SUI, and other networks (including XRP, CAKE, SAND, WLD, GRT, etc.). Brief delays may occur while service is restored in stages.
⚠️ Tracking the movement of hackers’ funds
· Conversion and laundering: According to Elliptic, the hackers have already converted around $175 million worth of stolen altcoins into approximately 2,300 BTC. These funds passed through 16 blockchains, more than 20,000 wallets, and at least 65,000 transactions. At present, the hackers’ main assets (BTC and ETH) remain largely untouched.
In brief: The critical phase for ordinary users is largely over — funds are protected, compensation is nearly complete, and withdrawals are ongoing. The CFO change is a management decision that could affect long-term trust, but it does not currently affect Binance’s obligations to users.
