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Tether-backed Orionx Plans Shutdown After $7M Custody Gap Found


Orionx, a Chilean cryptocurrency exchange backed by Tether, is shutting down after discovering a custodial shortfall that Orionx says is tied to assets leaving wallets the exchange did not manage. The company sa...
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AirdropPickup
2 hours ago
The 7M shortfall was said not to be caused by their own wallet—the blame-shifting is a bit of a stretch.
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PoolWatcher
3 hours ago
Even projects endorsed by Tether can blow up—custody is truly an unavoidable pitfall.
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BetaChaser
3 hours ago
Chilean exchange + Tether backing— even a combination that sounds very solid can blow up; South American crypto infrastructure is still too fragile.
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AaveAcolyte
4 hours ago
Custodied assets flowed out of unmanaged wallets—in other words, we also don’t know where the money went.
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TrendGuardian
4 hours ago
First Review
Orionx went straight into shutdown mode instead of trying to plug the hole, suggesting the shortfall is probably bigger than disclosed.
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