Orionx Halts Operations and Suspends Withdrawals, Audit Reveals Over $7 Million Funding Gap

Odaily News: Chilean cryptocurrency exchange Orionx has announced it is ceasing operations and suspending user withdrawals. A forensic audit has found that over $7 million in custodial assets were transferred to wallets outside the company's control, resulting in a funding shortfall.

Orionx has accused two founding partners, Joaquín Díaz and Roberto Zibert, along with other former employees, of involvement in the related transactions and has filed a report with Chile's National Prosecutor's Office. The complaint alleges the transactions occurred between 2018 and 2021.

Chile's Financial Market Commission (CMF) stated that Orionx was not authorized to offer cryptocurrency financial services and that its operations did not comply with the Fintech Law. Orionx has stated that it cannot guarantee users will recover all their funds. (Bitcoin.com News)