Chilean crypto exchange Orionx closes after $7 million shortfall

The Chilean crypto exchange Orionx is closing its doors after a forensic audit revealed that more than $7 million in customer funds was transferred to wallets outside the company’s control. Withdrawals have been blocked and criminal charges have been filed against two former executives. Orionx had received an investment from Tether, but the Chilean financial regulator refused to register the company earlier this year.

In brief:

• A forensic audit shows that more than $7 million in customer funds disappeared to external wallets
• Criminal charges have been filed against two co-founders, both of whom deny any wrongdoing
• Tether invested in Orionx in June 2025, but the announcement has since disappeared from the Tether website

Forensic audit reveals disappearance of customer funds

Orionx itself announced that it has started a definitive closure process. The trigger is a forensic audit that uncovered transactions in which customer funds worth more than $7 million were transferred to wallets not controlled by the company.

According to the complaint, it concerns transfers of Bitcoin, Ethereum, XRP and POL that took place between 2018 and 2021. Orionx has filed a report with the Public Prosecutor’s Office and a criminal complaint against co-founders Roberto Zibert and Joaquín Díaz. Both deny any wrongdoing.

Tether invested, regulator refused registration

The downfall of Orionx stands in stark contrast to the investment the company received. In June 2025, Tether led a Series A investment round in the exchange as the sole investor. The original announcement can no longer be found on Tether’s website.

The Chilean financial regulator had already rejected Orionx’s registration application in June 2026, which left the company in a difficult position. Customers are currently unable to withdraw their funds. Whether and how they will get their money back remains unclear.