Santiago-based cryptocurrency exchange Orionx has announced its permanent closure after a forensic audit uncovered a custody shortfall of more than $7 million in customer assets. The platform suspended all withdrawals simultaneously, impacting more than 100,000 registered users who are currently unable to access their funds.
The shutdown announcement on September 3 followed a criminal complaint filed by Orionx the previous day against co-founders Joaquín Díaz, Roberto Zibert, and other former employees. The legal action centers on allegations of unauthorized asset transfers involving customer funds between 2018 and 2021.
Forensic Audit Reveals Missing Assets
The forensic audit evaluated Orionx's internal transaction records against on-chain data, revealing a discrepancy between user account balances and the actual holdings in the exchange's wallets. The missing funds include several major digital assets such as Bitcoin, Ether, XRP, and Polygon's POL, which were reportedly moved to external addresses without proper authorization.
In response to the shortfall, Orionx introduced a phased restitution plan aimed at reimbursing users. However, the exchange has stated it cannot guarantee a full recovery of the funds. The restitution process is currently in its initial stages, and no independent verification has confirmed whether the transferred assets can be retrieved.
Co-founders Joaquín Díaz and Roberto Zibert have both denied any wrongdoing.
Regulatory Context and Tether Investment
The collapse follows an investment from Tether, which served as the sole backer in Orionx's Series A funding round in June 2025, approximately 15 months prior to the closure.
Additionally, Chile’s Financial Market Commission (CMF) reported on September 4 that Orionx's license application was rejected on June 19, 2026. The financial regulator stated that the exchange never operated under Chile's Fintech Law and was not formally supervised by local authorities.
