Tether-Backed Crypto Exchange Orionx Shuts Down Over $7M Custody Gap

Chilean crypto exchange Orionx is permanently closing its doors and suspending all withdrawals following a forensic audit that revealed a $7M gap in customer assets. The exchange filed a criminal complaint against co-founders Roberto Zibert and Joaquín Díaz, alleging assets were transferred to outside wallets between 2018 and 2021. The complaint claims an account tied to Díaz received over $1.5M across 14 transfers, while another wallet allegedly took in 187 Ether, 200,000 USDC, and more than 4.1M $USDT . The collapse occurs roughly 15 months after stablecoin giant Tether led Orionx's Series A funding round in June 2025. "Our sole priority now is to return as much of our clients’ assets as possible." — Orionx