Orionx crypto exchange collapses after $7M shortfall

Orionx, a leading Chilean crypto exchange, shut down after a $7M asset shortfall. Withdrawals are suspended, criminal complaints filed, and client restitution remains uncertain.

Chilean crypto exchange Orionx has permanently closed after a forensic audit revealed a custody shortfall exceeding $7 million. Between 2018 and 2021, customer assets were moved to external wallets, prompting the exchange to suspend withdrawals on September 3, 2026. This left over 100,000 users uncertain about the fate of their funds. Orionx has filed criminal complaints against two former executives, who deny any wrongdoing. The missing assets include Bitcoin, Ethereum, XRP, and Polygon. Notably, Tether led Orionx’s Series A funding round in June 2025, just 15 months before the collapse. Chile’s financial regulator had rejected Orionx’s registration bid months before the shutdown. The company has launched a restitution process but cannot guarantee full recovery for all clients. Orionx is cooperating with authorities and has warned customers about potential impersonation as investigations continue.