Orionx Shuts Down Amid $7 Million Asset Shortfall, Fights for Customer Recovery

Orionx, a Chilean cryptocurrency exchange backed by Tether in 2025, has initiated a permanent shutdown. A forensic audit revealed a shortfall of over $7 million in customer assets.

The review found that more than $7 million worth of assets held in custody had been transferred to wallets outside Orionx's control. These assets were primarily comprised of Bitcoin ($BTC), Ethereum ($ETH), XRP, and Polygon ($POL).

Orionx suspended withdrawals as a precautionary measure to prevent the shortfall from increasing further.

The exchange is currently working to determine the amount of recoverable assets and return funds to customers. However, Orionx warns that it cannot guarantee full recovery for every user.