Orionx Halts Operations After Audit Finds $7 Million Shortfall

Orionx, a Chile‑based cryptocurrency exchange founded in 2017, announced it is winding down operations after a forensic audit uncovered a financial gap of more than $7 million. The audit identified a series of transactions that moved custodial assets to wallets outside the company’s control.

Audit Findings and Allegations

The audit concluded that two founding partners, Joaquín Díaz and Roberto Zibert, along with other former employees, were allegedly aware of and involved in the movements. The transactions, dated between 2018 and 2021, transferred cryptocurrency from Orionx wallets to accounts linked to the company’s email on other platforms.

Use of User Funds

According to the audit, the withdrawn funds were used for market operations, generating realized gains and losses, as well as covering various trading and fee expenses. This suggests that user deposits may have been employed for speculative trading on external platforms.

Regulatory Response

The Chilean Financial Market Commission (CMF) confirmed that Orionx was not authorized to provide cryptocurrency services, noting that its request for authorization was rejected in July. The CMF urged affected users to retain account statements and other documentation and to pursue legal action to recover their assets.

Impact on Users

Orionx has halted all withdrawals and warned that there is no guarantee users will recover the full value of their holdings. Over 100,000 registered customers are potentially affected by the shortfall.