Orionx Shuts Down Amid $7M Asset Shortfall
Tether-backed crypto exchange Orionx has permanently shut down due to a $7 million custody shortfall discovered during a forensic audit.
The audit found that customer assets were transferred to wallets not under company control, prompting Orionx to notify the Public Prosecutor's Office of Chile and file a criminal complaint against former executives Roberto Zibert and Joaquín Díaz.
The exchange has temporarily halted withdrawals to ensure equal treatment during the closure process, citing its priority on recovering as many customer assets as possible.
Orionx is not registered or authorized by the Fintech Law in Chile, according to the Financial Market Commission (CMF), which had previously prevented the registration and authorization of Orionx in June 2026.