Orionx collapse — what creditors were owed and recovered (2026)
No distribution has been reported. Orionx announced a phased restitution plan when it closed but said it could not guarantee full recovery. In its liquidation filing it listed customer crypto positions of CLP 17,153 million against digital assets in custody worth CLP 7,897 million, a gap of more than CLP 9,256 million. The liquidator has not published a claims figure.
Case facts
| Customers lost access | |
|---|---|
| Insolvency filed | October 14, 2026 |
| Business | Centralised exchange |
| Jurisdiction | Other |
| Procedure | LiquidationCivil court of Santiago, Chile (voluntary liquidation; filed with the 15th Juzgado Civil per Meganoticias, decree reported from the 17th Juzgado Civil by Roadshow) |
| Owed to creditors | $19,482,557 |
| Distributed so far | Nothing |
| Recovery | —Basis not established — A figure circulates but no source states what it is measured against. |
| Cause | Fraud or misappropriationAs alleged by Orionx itself: a forensic audit commissioned by new management found unauthorised transfers of custodied BTC, ETH, XRP and POL worth about $6.98m to wallets the company did not control, and customer funds invested outside the company; it has filed a criminal complaint against two of its founders |
What happened
Orionx was a Chilean cryptocurrency exchange and custodian founded in 2017 that also handled international payments for businesses; it had more than 100,000 registered customers. Bitfinex invested in 2023 and Tether put in $4 million in June 2025. Chile's financial regulator, the CMF, rejected its application to register under the Fintech Law in June 2026 and has said Orionx was never supervised by it.
On 3 September 2026 Orionx announced it was closing and suspended withdrawals after a forensic audit, commissioned by new management, found that more than $7 million of customers' crypto had left for wallets the company did not control. It filed a criminal complaint against two of its founders. On 14 October it applied for voluntary liquidation, declaring debts of about CLP 19,130 million (the headline here, converted at the rate on the filing date), including customer crypto positions of CLP 17,153 million (the low end). A Santiago civil court ordered the liquidation on 4 November and appointed a liquidator.
Nothing has been reported paid to customers. Customers have filed 13 criminal complaints, 12 of them admitted; the investigation is open and no one has been charged.
Charges and enforcement
- Chile: 13 criminal complaints (querellas) filed in the 4th Juzgado de Garantía de Santiago
- 12 admitted
- covering alleged fraud
- misappropriation
- breach of fiduciary duty and money laundering; investigation open
- no charges reported.
Sources
- Meganoticias (15 October 2026): liquidation filing, CLP 19,130 million of debtsSecondary · retrieved 2026-11-09
- Roadshow (5 November 2026): liquidation ordered, customer positions CLP 17,153 millionSecondary · retrieved 2026-11-09
- El Mostrador (4 September 2026): CMF statement on OrionxSecondary · retrieved 2026-11-09
Changes to this entry
- Added. Headline = debts declared in the 14 Oct 2026 liquidation filing, CLP 19,130 million at 981.90 CLP/USD; low = customer crypto positions, CLP 17,153 million. The 2026-09-19 re-check had wrongly excluded Orionx on its ~$7m custody gap; the registry measures what is owed, not the hole. Correct against the liquidator's claims list when published.
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iTokenly Crypto Failure Registry, "Orionx collapse — what creditors were owed and recovered (2026)", iTokenly, accessed 2026-11-10, https://itokenly.com/failures/orionxhttps://itokenly.com/failures/orionxPermalinks never change. If an entry is renamed, the old address keeps working.
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