Chile-based cryptocurrency exchange Orionx, backed by Tether, announced its permanent closure on September 3 after a forensic audit revealed a custody shortfall exceeding $7 million in customer assets. Over 100,000 registered users are unable to access their funds. The exchange filed a criminal complaint against co-founders Joaquín Díaz and Roberto Zibert for unauthorized transfers that reportedly occurred between 2018 and 2021. Tether was the sole investor in Orionx’s Series A funding round in June 2025, while Chile’s Financial Market Commission (CMF) rejected the exchange’s license application on June 19, 2026.
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