Tether-Backed Orionx Shuts Down After $7M Customer Asset Shortfall

Tether-backed Orionx shuts down after $7 million asset shortfall, suspending withdrawals as BitMEX, BitMart and NoOnes also wind down.

Tether-backed Chilean crypto exchange Orionx has begun a permanent shutdown after finding a $7M custody shortfall. A forensic audit uncovered funds transferred to wallets that are not under company control. In the meantime, customers are not allowed to withdraw money while the closure is taking place.

Orionx Shuts Down After Audit Finds $7M Crypto Asset Gap

The forensic audit verified transactions with customer assets held under company custody, said Orionx. The assets were transferred to wallets not managed by Orionx. So, the exchange 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

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