Chilean crypto exchange Orionx has suspended customer withdrawals and begun a permanent wind-down after a forensic audit found that more than $7 million in custodied assets had been transferred to wallets outside the company’s control. The exchange said it froze withdrawals to prevent customers who act first from recovering assets at others’ expense, and it has not disclosed a repayment date. Orionx notified prosecutors and filed a criminal complaint dated Sept. 2 against former executives Roberto Zibert and Joaquín Díaz over questioned transactions between 2018 and 2021; both men denied wrongdoing. Chile’s Comisión para el Mercado Financiero rejected Orionx’s registration and authorization application on June 19, ending its transitional operating arrangement and leaving the agency unable to supervise the wind-down or compel repayment. Orionx’s restitution tracker remains at the first of five stages, with balance reconciliation and approval of a distribution plan still required before funds can be returned. Tether invested in Orionx in June 2025 after affiliated exchange Bitfinex invested in 2023, backing the company’s planned Latin American expansion.