{"id":12889,"date":"2026-09-07T05:23:14","date_gmt":"2026-09-07T05:23:14","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12889"},"modified":"2026-09-07T05:23:14","modified_gmt":"2026-09-07T05:23:14","slug":"orionx-shuts-down-after-7m-custody-discrepancy","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12889","title":{"rendered":"Orionx Shuts Down After $7M Custody Discrepancy"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_9be4258205db52a3941be9059eb6f123\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Orionx, a Chilean cryptocurrency exchange backed by Tether, is shutting down permanently after a forensic audit found more than US$7 million in custodial assets had moved to wallets outside its control.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The exchange filed a criminal complaint against former co-founders Roberto Zibert and Joaqu\u00edn D\u00edaz, who categorically rejected the accusations and said they never acted against customers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Chile\u2019s Financial Market Commission said it had rejected Orionx\u2019s registration application in June and does not supervise the firm or its wind-down.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Orionx, a Chilean cryptocurrency exchange founded in 2017, is shutting down permanently after a forensic audit found more than US$7 million (AU$9.7 million) in customer assets had been moved to wallets outside its control.<\/p>\n<p class=\"wp-block-paragraph\">The audit compared the exchange\u2019s internal records against blockchain data and found custodial outflows to external addresses that were absent from its books, Orionx said.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The company has temporarily suspended withdrawals, telling customers the pause is meant to treat all users equally while it works to return as much of their assets as possible. It stopped short of promising full repayment.<\/p>\n<p class=\"wp-block-paragraph\">Orionx said its chief operating officer, Thomas Mac Millan, flagged the mismatch in late August, triggering the internal review that led to the closure. The shortfall spans Bitcoin, Ethereum, XRP and Polygon, according to the audit.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"\/>\n<p class=\"wp-block-paragraph\"><strong>Read more: Ripple and SettleMint Join Forces to Streamline the Tokenised Asset Lifecycle<\/strong><\/p>\n<p class=\"wp-block-paragraph\">The day before it went public, on September 2, Orionx filed a criminal complaint against two former co-founders, ex-general manager Roberto Zibert and ex-technology manager Joaqu\u00edn D\u00edaz, alleging disloyal administration.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The complaint says the pair held the technical access and permissions needed to run the exchange\u2019s custody systems, and accuses them of diverting customer funds over several years, including an account tied to one of the men that it says received more than US$1.5 million (AU$2.1 million) across 14 transfers between 2018 and 2021.<\/p>\n<p class=\"wp-block-paragraph\">Zibert and D\u00edaz categorically rejected the accusations. In a joint message to customers, they said they had never acted against clients\u2019 interests and that the cause of the accounting shortfall had not been established, adding that they expected an independent investigation to clear them.<\/p>\n<h2 id=\"h-rejected-by-the-regulator\" class=\"wp-block-heading\">Rejected by the Regulator<\/h2>\n<p class=\"wp-block-paragraph\">Chile\u2019s Financial Market Commission said on September 4 that Orionx and its activities are not supervised by the regulator.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The commission had rejected the exchange\u2019s application to register as a financial services provider in June, meaning Orionx kept operating without the registration Chile\u2019s Fintech Law requires. The commission said it is not overseeing the closure or any return of funds.<\/p>\n<p class=\"wp-block-paragraph\">Tether led Orionx\u2019s Series A funding round in June 2025. The stablecoin issuer has not commented on the shutdown, and the announcement of that investment was later removed from its website.\u00a0<\/p>\n<p class=\"wp-block-paragraph\"><strong>Related: X Investigates Suspicious Password-Reset Wave Following X Money Rollout<\/strong><\/p>\n<\/p><\/div>\n<p>Cryptocurrency,Regulation,Tether#Orionx #Shuts #Custody #Discrepancy1788758594<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orionx, a Chilean cryptocurrency exchange backed by Tether, is shutting down permanently after a forensic audit found more than US$7 million in custodial assets had moved to wallets outside its control. The exchange filed a criminal complaint against former co-founders Roberto Zibert and Joaqu\u00edn D\u00edaz, who categorically rejected the accusations and said they never acted<\/p>\n","protected":false},"author":1,"featured_media":12890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[994,6766,6765,1767],"class_list":["post-12889","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-custody","tag-discrepancy","tag-orionx","tag-shuts"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Orionx Shuts Down After $7M Custody Discrepancy - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=12889\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orionx Shuts Down After $7M Custody Discrepancy\" \/>\n<meta property=\"og:description\" content=\"Orionx, a Chilean cryptocurrency exchange backed by Tether, is shutting down permanently after a forensic audit found more than US$7 million in custodial assets had moved to wallets outside its control. 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