Who is He Yi? How Binance's 7-month-pregnant co-CEO led 100-member war room to tackle $6 bn cyberattack | Full story

Seven months pregnant, Binance co-CEO He Yi worked through the night to coordinate the cryptocurrency exchange's response after hackers stole more than $6 billion in virtual assets, according to a report by The New York Times.

Based in Abu Dhabi, He Yi remained involved in the crisis overnight, taking calls as late as 3 AM local time as the company scrambled to contain the breach and restore customer services.

An informal emergency war room brought together around 100 people, including cryptocurrency tracing specialists and security personnel, to coordinate the response.

Quick answers to key questions

•5 QUESTIONS

1

Who is He Yi, Binance’s co-CEO?⌵

He Yi is a Chinese entrepreneur and Binance co-founder. She became co-CEO alongside Richard Teng in late 2025 and has also overseen customer service.

2

How did He Yi help Binance respond to the cyberattack?⌵

He Yi coordinated Binance’s response overnight, taking calls as late as 3 a.m. local time. She was involved in an emergency war room that brought together about 100 people, including security personnel and cryptocurrency-tracing specialists.

3

Who did the FBI blame for the Binance hack?⌵

The FBI attributed the theft of more than $6 billion in virtual assets to North Korea. It identified the cyber activity as “TraderTraitor.”

4

Why did Binance suspend withdrawals after the hack?⌵

Binance suspended customer withdrawals after detecting the breach so it could investigate the incident and respond to the theft. It later restored withdrawals in phases.

5

When did Binance resume withdrawals after the cyberattack?⌵

Binance began restoring withdrawals in phases, with service resuming on Sunday after the attack. The exchange reported net outflows of about $3.6 billion after withdrawals resumed.

The team later shifted to a conference call involving approximately 100 participants, with employees coordinating in English and Chinese as they worked to address the fallout, the NYT report said.

The cyberattack began at around 4.20 PM on Thursday, October 29, when unusual transactions triggered alarms across Binance's systems.

As funds were drained, senior executives set up an emergency war room on Wea, the company's internal messaging platform, the report added.

The Federal Bureau of Investigation (FBI) subsequently attributed the theft to North Korea, identifying the cyber activity as "TraderTraitor".

In a statement issued on Saturday, the FBI said North Korea was responsible for stealing more than $6 billion in virtual assets from Binance on or around October 29, 2026.

"The Federal Bureau of Investigation (FBI) is releasing information advising the Democratic People's Republic of Korea [North Korea] was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange Binance," the agency said.

The FBI said it refers to the specific North Korean cyber activity as "TraderTraitor".

Binance, the world's largest cryptocurrency exchange by daily trading volume, suspended customer withdrawals immediately after detecting the breach as it investigated the incident. News of the attack also triggered a sharp decline in the prices of several major cryptocurrencies on Friday, AFP reported.

The exchange subsequently began restoring withdrawals in phases. After the service resumed on Sunday, Binance recorded net outflows of $3.6 billion in crypto assets, as per Bloomberg.

While He Yi and other senior executives coordinated the company's internal response, Binance founder and majority shareholder Changpeng Zhao continued posting on X, where he has around 12.9 million followers.

He Yi, also known as Yi He or He Ying, is a Chinese entrepreneur and co-founder of Binance, which she established alongside Changpeng Zhao, popularly known as CZ, in 2017.

She is among the key figures behind the growth of the cryptocurrency exchange and has played a central role in its marketing, customer engagement and business development.

He Yi previously worked as a television host before moving into the technology and cryptocurrency industries.

She served as vice-president and chief marketing officer at cryptocurrency exchange OKCoin, where she helped recruit Zhao.

She later headed marketing at Chinese technology company Yixia Technology.

At Binance, she has held several leadership responsibilities, including overseeing customer service and previously heading Binance Labs, the company's investment and incubation arm.

He Yi became co-CEO alongside Richard Teng in late 2025, adding the position to her responsibilities as chief customer service officer.

Bhanu Pratap is a journalist who reports and writes on foreign affairs, India’s foreign policy, geopolitics and strategic affairs. He closely follows diplomatic developments in New Delhi and has a keen interest in defence and national security.<br> <br> Bhanu also focuses on in-depth, interview-based reports and regularly speaking with experts and policymakers to bring perspectives and context to major developments around the world.<br> <br> He is also interested in stories with strong humanitarian angles.<br><br> One such report examined the cases of Indian nationals who were allegedly recruited and forced into Russia’s war against Ukraine. While reporting the story, Bhanu spoke to the families of those affected and documented their experiences. The report was later taken into account by the United Nations in its findings on human rights violations linked to the war in Ukraine.<br> <br> For Bhanu, the zeal to produce meaningful and impactful journalism remains at the heart of his work.<br> <br>He has previously worked with Firstpost, NDTV, Newslaundry and Republic.<br><br> Bhanu studied at the Delhi School of Journalism, University of Delhi. He initially chose science with plans to pursue engineering, influenced by conventional expectations, but fate had other plans and eventually led him to journalism.<br><br> Beyond the newsroom, Bhanu enjoys exploring culture and history and often spends his days off on heritage walks. He is also passionate about travelling, biking and listening to folk music.<br> <br>For tips, reviews and suggestions, you can reach him at bhanu.pratap@htdigital.in.

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