Orionx Shuts Down Amid $7M Asset Shortfall
Chilean cryptocurrency exchange Orionx has ceased operations after a forensic investigation revealed that over $7 million in client assets were transferred to unauthorized external wallets.
The platform, which had been operating since 2017 and had received funding from Tether in June 2025, froze all withdrawal capabilities on September 3, 2026, leaving more than 100,000 account holders uncertain about the recovery of their digital holdings.
The discovery of the asset discrepancy was made by Orionx's chief operating officer, Thomas Mac Millan, who identified inconsistencies between reported account holdings and actual cryptocurrency reserves held in custody wallets on August 27.
The external auditors cross-referenced internal transaction records with blockchain data, validating the substantial deficit. The missing funds consisted of multiple cryptocurrencies, including Bitcoin, Ethereum, XRP, and Polygon tokens, with an aggregate value exceeding $7 million.