Orionx Shuts Down After Discovering Millions in Unaccounted Assets

Orionx, a Chilean cryptocurrency exchange that received an investment from Tether, has begun the process of shutting down its operations. According to a September 3 announcement, Orionx had over $7 million in assets stored in wallets outside of its control.

This discovery was made during a forensic audit, which also revealed that some customer funds were being used for unauthorized purposes. The exchange has notified the Chilean authorities and requested an investigation into these findings.

Orionx has stated that it is prioritizing the return of customer assets, but cannot guarantee full repayment at this time. The company has outlined a 5-stage plan to close its operations and return as much value as possible to customers.