Tether-Backed Orionx Shuts Down After $7M Crypto Shortfall

TLDR: Orionx is shutting down after a $7M+ customer asset shortfall was confirmed. Withdrawals are frozen while Orionx pursues criminal complaints against ex-executives. Chile’s regulator rejected Orionx’s registration bid just months before the audit. Tether backed Orionx’s 2025 Series A round as its sole investor. Orionx, a Chilean crypto exchange backed by Tether, has begun [...]

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