$7M+ Customer Asset Shortfall Forces Shutdown of Tether-Backed Orionx

Orionx, a cryptocurrency exchange backed by Tether, has shut down due to a significant shortfall in customer assets exceeding $7 million. The exchange's closure was prompted by findings from a forensic audit that identified transfers involving Bitcoin, Ethereum, XRP, and Polygon's POL token.

The audit revealed that these assets had moved to wallets outside the control of Orionx. While the exchange has not explained how the transfers occurred or disclosed who currently controls those wallets, it has filed a complaint with Chile's Public Prosecutor's Office naming co-founders Roberto Zibert and Joaquín Díaz in connection with the alleged transactions.

Orionx has suspended withdrawals to prevent some customers from receiving funds before others. The exchange has described the withdrawal freeze as temporary and directly connected to the restitution process, which is currently being implemented.