Orionx Exchange, Supported by Tether, Halts Operations
Chilean crypto exchange Orionx is permanently shutting down following a forensic audit that revealed over $7 million in customer assets were transferred to unauthorized wallets. Withdrawals have been suspended as the platform files criminal complaints against its co-founders, Roberto Zibert and Joaquรญn Dรญaz, who deny any wrongdoing. This situation raises serious concerns regarding the stability of exchanges linked to major players like Tether. source
Breaking It Down
The recent shutdown of Orionx highlights significant vulnerabilities within the crypto exchange ecosystem. Following a forensic audit, it was discovered that the exchange had transferred more than $7 million in customer assets to wallets outside its control. As a result, the Chilean financial regulator had previously rejected Orionxโs registration application in June 2026. This incident has sent ripples through the market, raising alarms about the security protocols of exchanges associated with major firms like Tether, especially in an environment where the broader crypto market is already showing mixed signals.
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