Orionx Shutdown: $7 Million+ Customer Asset Shortfall Exposes Tether Backed Exchange

Tether-backed Orionx has shut down due to a $7 million+ customer asset shortfall, forcing withdrawals to remain frozen.

A forensic audit revealed that customer assets had been transferred to cryptocurrency wallets outside of the exchange's control. The transfers involved Bitcoin, Ethereum, XRP, and Polygon's POL token, with no explanation provided on how they occurred or who currently controls the wallets.

Orionx filed a complaint against co-founders Roberto Zibert and Joaquín Díaz, alleging that they were involved in the alleged transactions between 2018 and 2021. However, both co-founders have denied any wrongdoing.