Tether-backed Orionx shuts down after $7 million asset shortfall, suspending withdrawals as BitMEX, BitMart and NoOnes also wind down.
Tether-backed Chilean crypto exchange Orionx has begun a permanent shutdown after finding a $7M custody shortfall. A forensic audit uncovered funds transferred to wallets that are not under company control. In the meantime, customers are not allowed to withdraw money while the closure is taking place.
Orionx Shuts Down After Audit Finds $7M Crypto Asset Gap
The forensic audit verified transactions with customer assets held under company custody, said Orionx. The assets were transferred to wallets not managed by Orionx. So, the exchange notified the Public Prosecutor’s Office of Chile.
Tether-Backed Chilean Crypto Exchange Orionx Shuts Down After $7M+ Asset Shortfall
Chilean crypto exchange Orionx has begun a permanent shutdown after a forensic audit found that more than $7 million in customer assets had been transferred to wallets outside the company’s… pic.twitter.com/DtmTz74XxB
— Wu Blockchain (@WuBlockchain) September 6, 2026
The firm also filed a criminal complaint against former executives Roberto Zibert and Joaquín Díaz. Orionx alleges that the complaint was filed on September 2, 2026. Both men have denied any wrongdoing, and the accusations are still being investigated.
The disputed transactions reportedly involved Bitcoin, Ethereum, XRP, and POL. But the authorities have not found the accused executives guilty of any criminal charges. So allegations of wrongdoing should be left as allegations until investigations can yield results.
Meanwhile, Orionx has temporarily halted any customer withdrawals. The move should guarantee equal treatment during the closure, the company said. It is also intended to discourage some customers from leaving before others.
Related reading: BitMEX Ends 11-Year Crypto Exchange Journey.
Orionx has filed a Closure and Asset Restitution Plan with the authorities. Its first phase is already underway, the company said. Therefore, Orionx always prioritizes the recovery of as many customer assets as possible.
The Financial Market Commission (CMF) of Chile also commented on the shutdown. The CMF stated that Orionx is not registered or authorized by the Fintech Law in Chile. Furthermore, no regulatory authority regulates or oversees the closure or the restitution of customer assets.
On June 19, 2026, the CMF had prevented the registration and authorization of Orionx. Orionx was previously running a transitional arrangement. The regulatory rejection was therefore prior to the ongoing shutdown of the exchange.
In June 2025, Tether had participated in the Series A funding round for Orionx. Tether supported the Chilean exchange in the context of its plans to expand into Latin America.
BitMEX, BitMart and NoOnes Join Crypto Platform Shutdown Wave
Orionx is not the only crypto platform facing a shutdown this year. BitMEX has announced that it will cease its exchange operations on September 23, 2026. The company attributed the move to a “strategic review of the business.
All BitMEX users need to settle their positions and withdraw their balances prior to the closing. Remaining positions will be force-closed when exchange services end. The platform also ended its new account registration after announcing the shutdown.
Meanwhile, BitMart has started an orderly wind-down of its trading platform. The exchange was shut down on August 26, 2026. But BitMart will formally shut down its platform on Jan. 31, 2027.
Similarly, NoOnes announced a broader operational wind-down in August. The platform stated that normal operations were impossible because of sanctions against its partners. It shut down its P2P trading platform on August 21, and withdrawals were still being processed thereafter.
The closures demonstrate various motives for shutting down crypto platforms. Orionx is under an asset custody investigation and faces regulatory problems. In contrast, BitMEX cited strategy, while BitMart cited operations and market conditions.
Lastly, the primary worry of Orionx customers is the recovery of assets. The exchange will give updates throughout the restitution process, it says. So, the next few weeks could be the deciding factor in how much customer cryptocurrency can be returned in the end.
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