Tether backed Chilean exchange Orionx to shut down after $7 million shortfall in user funds

Chilean cryptocurrency exchange Orionx, in which Tether had previously invested, began a permanent shutdown process on Monday, September 7, 2026 (16 Shahrivar 1405), after discovering a shortfall of more than $7 million in user custodial assets. According to ArzDigital, the exchange has halted customer withdrawals and said it cannot currently guarantee the full return of all users' assets. Audit checks found that the balances recorded in Orionx's internal system, covering bitcoin, ether, XRP and Polygon, do not match the assets actually held in the company's wallets. Orionx has filed a criminal complaint against Roberto Zibert, its former CEO, and Joaquin Diaz, its former technology chief; the two former executives have denied the allegations, and none of the accusations has yet been proven in court.