Orionx, a cryptocurrency trading exchange headquartered in Chile and backed by stablecoin provider Tether, announced on September 3 that it would be ceasing operations following the discovery of significant financial discrepancies. A forensic audit conducted by the company revealed that client assets totaling more than $7 million had been transferred to cryptocurrency wallets not controlled by the exchange.
In response to the findings, Orionx filed a complaint with the country’s Public Prosecutor’s Office and initiated criminal legal action against co-founders Joaquín Díaz and Roberto Zibert. The exchange stated that its immediate objective is to facilitate the return of the maximum amount of client assets in the shortest timeframe while maintaining fairness in the distribution process. The company indicated it has submitted its asset closure and restitution plan to relevant authorities, with the initial stage of implementation already underway.
As part of the shutdown procedure, Orionx implemented a temporary suspension of client withdrawals. The exchange characterized this action as a necessary step to prevent certain clients from gaining preferential treatment by withdrawing funds ahead of others during the wind-down process. According to local reporting, the audit identified asset discrepancies affecting Bitcoin, Ethereum, XRP, and Polygon, though the company noted it continues to investigate whether similar issues exist in other cryptocurrency holdings.
Both Díaz and Zibert have rejected the accusations leveled against them and stated they have been cooperating with authorities since the irregularities were initially identified. The co-founders expressed uncertainty about the underlying causes of the accounting discrepancies and indicated that an independent investigation would clarify the circumstances surrounding the missing assets.
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