Orionx halts withdrawals and begins wind‑down after $7 M asset transfer allegations
Orionx suspends withdrawals and starts wind‑down
Chilean crypto exchange Orionx announced that it has temporarily stopped customer withdrawals and is beginning a definitive wind‑down. The company says a forensic audit uncovered more than $7 million in assets that were moved to wallets outside its control.
Key points
- Withdrawals are paused while Orionx works on a restitution process.
- The audit identified about $6.98 million in accounting differences across Bitcoin, Ether, XRP and Polygon.
- Orionx filed a criminal complaint on Sept 2 against former executives Roberto Zibert and Joaquín Díaz, accusing them of disloyal administration.
- Chile’s financial regulator (CMF) does not supervise Orionx’s closure and cannot order customer repayments.
- Customers must file claims directly with Orionx and may seek restitution through Chilean courts.
Regulator’s position
The Commission for the Financial Market (CMF) rejected Orionx’s request for registration under Chile’s Fintech Law on June 19. Because the exchange is not authorized, the CMF says it cannot oversee the wind‑down or compel the company to return funds. The regulator advises users to keep proof of their balances and to pursue legal remedies if needed.
Audit findings and alleged transfers
The forensic audit compared Orionx’s internal records with data visible on public blockchains. It found missing outbound transfers or unsupported accounting adjustments totaling approximately $6.98 million: $3.93 million in Bitcoin, $2.29 million in Ether, $762,017 in XRP and $201 in Polygon. The complaint says the movements happened between 2018 and 2021. It alleges that 79 BTC were moved via a Celsius account linked to Zibert and an email‑associated account, and that an account linked to Díaz received more than $1.5 million in 14 transactions. Zibert and Díaz have denied the allegations.
What is confirmed
- Orionx has halted withdrawals and issued a public closure notice.
- A forensic audit identified roughly $6.98 million in discrepancies.
- The company filed a criminal complaint on Sept 2 against former executives Roberto Zibert and Joaquín Díaz.
- The CMF does not have authority to order restitution because Orionx is not a registered provider.
What remains unclear
- The exact amount of customer funds that can be recovered is not guaranteed; Orionx only says it will try to return as much as possible.
- Details about the unidentified wallets that received the transferred assets have not been disclosed.
Why this matters for users
Customers of Orionx may lose access to their crypto holdings while the exchange winds down. The lack of regulator oversight means users must rely on the exchange’s restitution plan or legal action to recover assets. The case also highlights the importance of using regulated platforms that provide clear consumer protections.
Next steps
Orionx’s restitution plan includes five stages: public closure notice, opening a support chat, reconciling balances, approving a restitution plan, and returning funds. The exchange is currently in the first stage. Users are urged to submit claims with supporting documents and may consider filing claims in Chilean courts.
