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Orionx suspends withdrawals and begins wind-down after $7M transfer claim
Chile’s CMF said it is not authorized to order customer repayments because Orionx is not registered under the Fintech Law, as the audit flagged accounting differences across Bitcoin, Ether, XRP and Polygon.
Chilean crypto exchange Orionx has suspended customer withdrawals and started a definitive wind-down, after it said a forensic audit found more than $7 million in custodied assets were transferred to wallets outside the company’s control. The exchange said its closure and restitution process is underway, so customers cannot currently withdraw funds.
Chile’s financial market regulator, the CMF, said it does not oversee Orionx’s closure and lacks authority to order the return of customer funds because the exchange is not registered or authorized by the regulator. The CMF also noted it rejected Orionx’s application for registration and authorization under Chile’s Fintech Law on June 19, after which the company could only wind down existing operations rather than enter new ones.
Orionx said it filed a report with Chile’s Public Prosecutor’s Office and a criminal complaint dated Sept. 2 against former executives. La Tercera, citing the complaint, identified the accused as Orionx partners Roberto Zibert, a former general manager, and Joaquín Díaz, a former technology manager, and said Orionx accused them of disloyal administration, allegations the two men denied.
According to the complaint as described by La Tercera, blockchain reconciliation found about $6.98 million in accounting differences across Bitcoin, Ether, XRP and Polygon, including outbound transfers omitted from Orionx’s internal ledger or offset by unsupported accounting adjustments. The complaint separately characterized the resulting loss at approximately $6.07 million, and alleged the questioned movements occurred between 2018 and 2021.
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