Overview
- Orionx suspended withdrawals and said it is permanently closing after a forensic audit reported more than $7 million in customer crypto moved to wallets outside the exchange’s custody.
- The company filed criminal complaints naming former executives Joaquín Díaz and Roberto Zibert and alleges the transfers occurred over several years from 2018 to 2021.
- Chile’s Financial Market Commission rejected Orionx’s authorization application in June 2026 and has confirmed it will not manage or supervise the exchange’s closure or any repayment process.
- Orionx has put forward a phased asset restitution plan but froze withdrawals and stopped short of guaranteeing full recovery, leaving customers uncertain about if or when they will be repaid.
- The collapse follows a 2025 Series A investment led by Tether and now triggers criminal investigations and likely court proceedings that will determine whether customers can recover lost funds.