Crypto Exchange Orionx Ceases Operations Following $7 Million Asset Discrepancy

Orionx, the Chilean digital asset platform supported by Tether, has announced its permanent closure following the discovery of a $7 million shortfall in customer holdings. The exchange initiated a forensic audit to align with Chile’s Fintech Law, which revealed that substantial client assets had been moved to external wallets outside the firm’s control. While withdrawals are currently paused, the company stated that its primary focus is the recovery and return of remaining client funds. The audit identified discrepancies across several major assets, including Bitcoin (BTC), Ether (ETH), XRP, and Polygon (POL). In a formal criminal complaint filed on Wednesday, current management accused former co-founders Roberto Zibert and Joaquín Díaz of unauthorized fund transfers occurring between 2018 and 2021. Allegations suggest that over $1.5 million was funneled to an account linked to Díaz, alongside significant amounts of USDT, USDC, and ETH. Both Zibert and Díaz have publicly denied any misconduct, maintaining that the origins of the asset gap remain unexplained. This collapse arrives just over a year after Tether spearheaded the exchange’s Series A funding round to bolster its presence across Latin American markets.