Orionx, a Chile-based cryptocurrency exchange founded in 2017, has ceased operations after a forensic audit revealed a $7 million financial shortfall. The exchange announced it would halt customer withdrawals and wind down, citing the discovery of unauthorized transactions that moved assets to external wallets.
According to Orionx, the audit identified transactions involving two of the exchange's founding partners, Joaquín Díaz and Roberto Zibert, along with former employees. The company filed a criminal complaint with Chile's Public Prosecutor's Office requesting an investigation into the fund movements.
Local media reports indicate the transactions occurred between 2018 and 2021, with cryptocurrency transferred from exchange wallets to accounts associated with the company's email on other platforms. Orionx stated that the withdrawn funds were used for market operations on external platforms, generating both gains and losses, in addition to trading and funding fees.
The exchange stressed that there is no guarantee users will recover 100 percent of their funds. With over 100,000 registered users, the shutdown affects a substantial customer base.
Chile's Financial Market Commission (CMF) confirmed that Orionx was not authorized to offer cryptocurrency financial services. The regulator noted that the company's application for authorization was rejected in July and that Orionx was operating outside the provisions of the country's Fintec Law. The CMF advised users to maintain documentation of their accounts and consider pursuing legal action to recover their funds.
