Orionx Exchange Halts Withdrawals Amid $7M Asset Discrepancy
Chilean cryptocurrency exchange Orionx, backed by Tether (ticker: USDT-USD), announced it is shutting down after a forensic audit revealed discrepancies in client assets totaling over $7 million. The audit found that funds were transferred to wallets not controlled by the company across several cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, and Polygon (POL). Orionx has suspended withdrawals as part of its shutdown process and filed criminal charges against co-founders Joaquín Díaz and Roberto Zibert. The exchange is working on a restitution plan to return client assets. The founders have denied the allegations but acknowledged cooperation since the issue emerged, stating there remains no clarity about accounting discrepancies. Orionx claims it has reported its closure plans to authorities and aims for fair asset distribution. This incident could impact investor confidence in Tether-backed platforms and raise concerns over crypto exchange security practices.
Topics: asset_discrepancies cryptocurrency Orionx shutdown Tether