Chile-based cryptocurrency exchange Orionx has halted customer withdrawals and ceased operations after an internal audit identified more than $7 million in unknown transactions that moved custodied assets to external wallets.
Audit Identifies Unauthorized Transfers
According to the company’s announcement, an internal review uncovered transactions totaling over $7 million that were not authorized through standard procedures. The movements involved assets held in custody for customers, which were transferred to external wallets.
Founding Partners Accused
Orionx accused two of its founding partners, Joaquín Díaz and Roberto Zibert, of participating in the transfers. The allegations have not been independently verified. No further details on the nature of the transactions or any legal actions were provided in the statement.
Operations Ceased and Withdrawals Paused
Following the audit findings, Orionx terminated its operations and suspended all customer withdrawals. The exchange did not share additional information on remediation steps or a timeline for next actions.
Context
The incident underscores the ongoing custodial and governance risks associated with centralized cryptocurrency platforms, where user funds are held by third parties and depend on internal controls to prevent unauthorized access.