Orionx closes after $7M custody gap

• Orionx has begun permanently closing after an audit found a custody shortfall exceeding $7 million.
• Customer withdrawals remain suspended while the exchange reviews balances and plans asset repayments.
• Chile’s financial regulator rejected Orionx’s authorisation application in June and did not supervise its operations.

Orionx has begun closing permanently after a forensic audit found a custody shortfall exceeding $7 million.

The Chilean exchange said customer withdrawals remain suspended while it reviews balances and prepares a restitution process.

The audit found customer assets had moved to wallets outside Orionx’s control, but the exchange has not published the affected addresses or full transaction data.

The shortfall affects Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), XRP (CRYPTO:XRP) and Polygon (CRYPTO:POL), according to information provided to customers.

Orionx said its priority is to return “the greatest possible amount” of customer assets, but it has not guaranteed full repayment.

Chile’s Financial Market Commission rejected Orionx’s authorisation application on June 19 and said it did not supervise the exchange.

Tether led Orionx’s Series A financing in June 2025, while the exchange said it planned to use the funding to expand payments and stablecoin services across Latin America.

At the time of reporting, Bitcoin price was $80,337.63.