Tether-backed Chilean cryptocurrency exchange Orionx has begun a permanent shutdown after a forensic audit uncovered a custody shortfall of more than $7 million in customer assets. The audit found that funds had been transferred to wallets outside the company's control. While the closure proceeds, customer withdrawals remain suspended.

Forensic Audit Finds $7M Crypto Asset Gap

Orionx stated that the forensic audit verified transactions involving customer assets held under company custody. Those assets had been moved to wallets not managed by Orionx. The exchange subsequently notified the Public Prosecutor's Office of Chile.

Tether-Backed Chilean Crypto Exchange Orionx Shuts Down After $7M+ Asset Shortfall Chilean crypto exchange Orionx has begun a permanent shutdown after a forensic audit found that more than $7 million in customer assets had been transferred to wallets outside the company's… pic.twitter.com/DtmTz74XxB — Wu Blockchain (@WuBlockchain) September 6, 2026

The firm also filed a criminal complaint against former executives Roberto Zibert and Joaquín Díaz. Orionx says the complaint was filed on September 2, 2026. Both men have denied any wrongdoing, and the accusations remain under investigation.

The disputed transactions reportedly involved Bitcoin, Ethereum, XRP, and POL. Authorities have not found the accused executives guilty of any criminal charges, and the allegations of wrongdoing remain allegations until investigations conclude.

In the meantime, Orionx has temporarily halted all customer withdrawals. According to the company, the suspension is intended to guarantee equal treatment during the closure and to prevent some customers from exiting before others.

Restitution Plan and Regulatory Context

Orionx has filed a Closure and Asset Restitution Plan with the authorities, and its first phase is already underway, the company said. Orionx says it is prioritizing the recovery of as many customer assets as possible.

Chile's Financial Market Commission (CMF) also commented on the shutdown. The CMF stated that Orionx is not registered or authorized under Chile's Fintech Law, and that no regulatory authority oversees the closure or the restitution of customer assets. That distinction matters for customers: with the exchange operating outside the licensing regime, the restitution plan is being executed by the company itself rather than under a regulator-supervised insolvency or wind-down process. On June 19, 2026, the CMF had blocked Orionx's registration and authorization while the exchange was operating under a transitional arrangement — a rejection that preceded the current shutdown.

In June 2025, Tether participated in Orionx's Series A funding round, backing the Chilean exchange as part of its plans to expand into Latin America. The shutdown comes roughly a year after that investment, which had positioned Orionx within a broader push by crypto firms to establish footholds in the region.

BitMEX, BitMart and NoOnes Join Crypto Platform Shutdown Wave

Orionx is not the only crypto platform winding down this year. BitMEX announced that it will cease exchange operations on September 23, 2026, attributing the move to a "strategic review of the business." All BitMEX users must settle their positions and withdraw their balances before the closing; remaining positions will be force-closed when exchange services end. The platform has also stopped accepting new account registrations since announcing the shutdown.

BitMart, meanwhile, has begun an orderly wind-down of its trading platform. The exchange halted operations on August 26, 2026, and will formally shut down its platform on January 31, 2027.

NoOnes announced a broader operational wind-down in August, stating that normal operations were impossible due to sanctions against its partners. The platform shut down its P2P trading service on August 21, with withdrawals continuing to be processed afterward.

The closures reflect varied motives: Orionx is under an asset custody investigation and faces regulatory problems, while BitMEX cited strategy and BitMart cited operations and market conditions.

For Orionx customers, the primary concern is asset recovery, and the outcome of the criminal investigation into the transferred assets is likely to shape how much can be clawed back. The exchange says it will provide updates throughout the restitution process, and the coming weeks could be decisive in determining how much customer cryptocurrency can ultimately be returned.