Chilean cryptocurrency exchange Orionx has initiated a permanent shutdown after a forensic audit revealed that more than $7 million in customer assets had been transferred to wallets outside the company's control. Withdrawals have been temporarily suspended, and the exchange says it has filed criminal complaints against former executives Roberto Zibert and Joaquín Díaz, both of whom deny any wrongdoing. The allegations remain under investigation, and no criminal charges have been proven.
The Financial Market Commission of Chile stated that Orionx is not registered or authorized under the country's Fintech Law. The regulator had already rejected Orionx's registration application on June 19, 2026, before the shutdown. Orionx said it has filed a Closure and Asset Restitution Plan with authorities and is prioritizing the recovery of customer assets, but there is currently no regulatory oversight of the closure or restitution process.
Tether participated in Orionx's Series A funding round in June 2025 as part of its Latin American expansion plans. The disputed transactions reportedly involved Bitcoin, Ethereum, XRP, and POL. The incident has raised concerns about exchanges associated with major industry players such as Tether.
The Orionx closure is part of a broader wave of crypto platform shutdowns. BitMEX announced it will cease exchange operations on September 23, 2026, citing a strategic business review. BitMart began an orderly wind-down on August 26, 2026, with a formal shutdown planned for January 31, 2027. NoOnes also announced an operational wind-down in August, shutting its P2P trading platform on August 21 after saying normal operations were impossible because of sanctions against its partners.
