As of today, November 9, 2026, the situation at Binance remains generally under control, but market attention is focused on personnel changes: Chief Financial Officer (CFO) Kaiser Ng has left his position amid a hacking incident. User compensation and withdrawals are continuing as usual, and the exchange’s obligations to its users remain in force.
📌 Today’s main news: CFO departure
· Official confirmation: Binance announced that CFO Kaiser Ng, who had worked at the company for more than five years, is leaving. Justin Yek (formerly Vice President of Finance at payments platform Airwallex) will take his place.
· Official explanation: 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 start his own business, focusing on real-world asset (RWA) tokenization projects.
· Market attention: The timing of the departure did coincide with a period when Binance was facing security concerns and outflows, which drew market attention, but so far this has not changed the exchange’s obligations to its users.
✅ Operational status: compensation and withdrawals
· Compensation remains at 98%: According to official Binance data, as of November 3, around 98% of the affected tokens had been replenished. The remaining 2% consists of illiquid assets that will take longer to acquire. Binance emphasizes that it has reserved funds amounting to more than 100% of the losses, and users will not incur any losses.
· Withdrawals are ongoing: Binance has already enabled withdrawals for assets on several networks, including BSC, BASE, ETH, OPTIMISM, MATIC, ARBITRUM, AVAXC, TRX, SUI, and others (including XRP, CAKE, SAND, WLD, GRT, etc.). Brief delays may occur during the phased recovery.
⚠️ Tracking the movement of hackers’ funds
· Conversion and laundering: According to Chainalysis, the hackers have already distributed the stolen funds across more than 10,000 wallets, using THORChain (which processed more than $46 million in 72 hours) and Wasabi Wallet (around $4 million) to obfuscate the trail. Around $3.3 billion remains under the hackers’ control.
· Frozen portion: Thanks to Tether and Circle, a significant portion of the stolen stablecoins was frozen, reducing selling pressure on the market.
In brief: The critical phase for everyday users has largely passed — funds are protected, compensation is nearly complete, and withdrawals are ongoing. The CFO’s departure is a management decision that could affect long-term confidence, but for now it does not affect Binance’s obligations to its users.
