Orionx Suspends Operations and Withdrawals Amid $7 Million Audit Shortfall

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Chilean cryptocurrency news platform MarsBit reported that Orionx has ceased operations and suspended withdrawals. A forensic audit revealed that $7 million in custodied assets were transferred to external wallets. The exchange accused its co-founders and former staff of misappropriation and filed a report with Chile’s National Prosecution Office. The alleged transactions occurred between 2018 and 2021. The Financial Market Commission stated that Orionx violated cryptocurrency regulations by operating without authorization. The exchange cannot guarantee full recovery of users’ funds.

Mars Finance reports that Chilean cryptocurrency exchange Orionx has announced the cessation of operations and suspension of user withdrawals. A forensic audit revealed that over $7 million in custodied assets were transferred to wallets outside the company’s control, creating a funding shortfall. Orionx has accused two founding partners, Joaquín Díaz and Roberto Zibert, along with other former employees, of involvement in the transactions and has filed a complaint with Chile’s National Public Prosecutor’s Office. The complaint alleges that the transactions occurred between 2018 and 2021. Chile’s Financial Market Commission (CMF) stated that Orionx was not authorized to provide cryptocurrency financial services and its operations violated the FinTech Law. Orionx has indicated that it cannot guarantee users will recover all their funds.

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