{"investigation":{"slug":"joaquin-diaz-orionx-co-founder","entity_name":"Joaquin Diaz (Orionx Co-Founder)","trust_score":12,"severity_base":null,"score_modifier":0,"confidence":0.68,"status":"published","content_type":"investigation","summary":"Joaquín Díaz is a co-founder and former head of technology (CTO) of Orionx, a Chilean cryptocurrency exchange that permanently shut down in September 2026 after a forensic audit found more than $7 million in customer assets had been moved to wallets outside company control. Díaz and former general manager Roberto Zibert are named as the principal targets of a criminal complaint filed by Orionx with Chile's Public Ministry on September 2, 2026, which alleges an account linked to Díaz received over $1.5 million across 14 transfers, while a related wallet allegedly received 187 ETH, more than 4.1 million USDT, and 200,000 USDC diverted from customer custody between 2018 and 2021. Díaz denies wrongdoing and no charges have been proven in court; the matter is under active criminal investigation in Chile.","sections":[{"content":"Joaquín Díaz was a co-founder of Orionx, a Chilean cryptocurrency exchange launched in 2017 that expanded from a retail trading platform into crypto payment and financial services across Chile, Peru, Colombia, and Mexico. Díaz served as head of technology (reported in some outlets as Chief Technology Officer), overseeing the exchange's custody and technical infrastructure, while Roberto Zibert served as general manager. Orionx was reported to have over 100,000 registered users at the time of its closure, and Tether led the company's Series A financing round in June 2025 as part of a strategy to expand stablecoin infrastructure in Latin America.","heading":"Role at Orionx","sources":[{"url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets","name":"Tether-Backed Orionx Shuts Down After $7M Custody Gap - Cointelegraph","type":"news_article","credibility":2},{"url":"https://financefeeds.com/tether-backed-orionx-files-criminal-complaint-over-missing-crypto-assets/","name":"Tether-Backed Orionx Shuts Down Over $7M in Missing Assets - FinanceFeeds","type":"news_article","credibility":2},{"url":"https://www.crowdfundinsider.com/2026/09/306834-chilean-crypto-platform-orionx-shuts-down-after-audit-uncovers-7-million-shortfall-in-customer-funds/","name":"Chilean Crypto Platform Orionx Shuts Down After Audit Uncovers $7 Million Shortfall - Crowdfund Insider","type":"news_article","credibility":2}],"severity":"medium"},{"content":"On September 2, 2026, Orionx filed a criminal complaint with Chile's Public Ministry (Fiscalía) alleging disloyal/unfair administration ('administración desleal') against Roberto Zibert and Joaquín Díaz, described as the principal targets, along with unnamed former employees. The complaint alleges the two held the technical access and permissions needed to operate the exchange's custody systems and that they, or accounts linked to them, diverted customer funds between 2018 and 2021. Orionx stated that 'two of Orionx's founding partners, Joaquín Díaz and Roberto Zibert — along with other former employees of the company — were allegedly aware of and involved in one or more transactions that gave rise to the asset-liability mismatch.' The complaint seeks statements from Zibert and Díaz as accused parties, the lifting of banking secrecy on their personal accounts and company shareholdings, recovery of system credentials from Fireblocks, AWS, and Google Workspace, retrieval of laptops previously used by Zibert, and information from exchanges including Binance, Coinbase, and Kraken regarding wallet activity and counterparties. A subsequent forensic audit reportedly conducted by Deloitte estimated patrimonial damage at approximately US$6.066 million, while earlier reporting described the shortfall as exceeding $7 million across Bitcoin, Ether, XRP, and Polygon holdings. Neither Díaz nor Zibert has been convicted; the complaint opens an investigative process before Chile's Public Ministry, led by prosecutor Camila López of the Fiscalía Especializada Oriente.","heading":"Criminal Complaint and Allegations","sources":[{"url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets","name":"Tether-Backed Orionx Shuts Down After $7M Custody Gap - Cointelegraph","type":"news_article","credibility":2},{"url":"https://news.bitcoin.com/exchanges/orionx-halts-operations-after-audit-uncovers-7m-financial-hole/","name":"Orionx Halts Operations After Audit Uncovers $7M Financial Hole - Bitcoin.com News","type":"news_article","credibility":2},{"url":"https://www.latercera.com/pulso/noticia/quien-es-la-fiscal-detras-de-caso-orionx-y-las-diligencias-pendientes-que-encomendo-la-empresa/","name":"Quién es la fiscal detrás de caso OrionX y las diligencias pendientes que encomendó la empresa - La Tercera (Pulso)","type":"news_article","credibility":1}],"severity":"critical"},{"content":"According to reporting on the complaint, an account associated with Díaz — identified in at least one account as 'Binance Joaco' — allegedly received more than $1.5 million through 14 separate transfers. A related wallet allegedly received 187 ETH, more than 4.1 million USDT, and 200,000 USDC from Orionx-linked addresses. Separate reporting also describes approximately 79 BTC linked to Orionx custody allegedly moved via a Celsius account maintained by Zibert, and funds moved through an account tied to the email address comisiones@orionx.com to an unidentified account. Funds were reportedly 'used intensively in market operations, generating realized gains and losses' rather than being held statically, according to the audit findings cited in press reporting. These figures originate from Orionx's own criminal complaint and forensic audit as characterized by journalists; they have not been independently verified by a court, and no on-chain forensic report has been made directly available for independent review by this investigation.","heading":"On-Chain and Transaction Evidence Cited in the Complaint","sources":[{"url":"https://financefeeds.com/tether-backed-orionx-files-criminal-complaint-over-missing-crypto-assets/","name":"Tether-Backed Orionx Shuts Down Over $7M in Missing Assets - FinanceFeeds","type":"news_article","credibility":2},{"url":"https://news.bitcoin.com/exchanges/orionx-halts-operations-after-audit-uncovers-7m-financial-hole/","name":"Orionx Halts Operations After Audit Uncovers $7M Financial Hole - Bitcoin.com News","type":"news_article","credibility":2}],"severity":"critical"},{"content":"Zibert and Díaz have categorically denied wrongdoing. In an email sent to Orionx clients, the founders stated 'Rechazamos categóricamente los cargos que se nos imputan' ('We categorically reject the charges against us'), asserting they never acted against customers' interests. They said the cause of Orionx's asset shortfall remains unclear, stated they had participated actively since inconsistencies were detected, and requested an independent investigation with full access to company records. As of this writing, these are unproven allegations and Díaz has not been convicted of any crime.","heading":"Denial and Response","sources":[{"url":"https://www.lacuarta.com/chile/noticia/que-pasa-con-orionx-fundadores-acusados-rechazan-categoricamente-los-cargos-en-su-contra/","name":"¿Qué pasa con OrionX?: Fundadores acusados rechazan 'categóricamente' los cargos en su contra - La Cuarta","type":"news_article","credibility":1}],"severity":"medium"},{"content":"Following Orionx's closure, at least one customer, identified as Pedro Molleda, filed a separate criminal querella (private criminal action) against Zibert, Díaz, and other former staff, alleging he could not retrieve an investment of approximately 6 million Chilean pesos in bitcoin made between February and May 2026. The complaint also asked prosecutors to evaluate potential criminal liability for Orionx as a legal entity and to compel disclosure of the company's crime-prevention model.","heading":"Additional Civil Complaint by Customer","sources":[{"url":"https://www.df.cl/mercados/bolsa-monedas/cierre-de-orionx-suma-nueva-querella-criminal-contra-sus-exsocios-y","name":"Cierre de Orionx suma nueva querella criminal contra sus exsocios - Diario Financiero","type":"news_article","credibility":1}],"severity":"medium"},{"content":"Chile's Financial Market Commission (CMF) rejected Orionx's application for registration and authorization to operate as a crypto financial services provider. One report states the rejection occurred 'on June 19,' while another describes the rejection as occurring 'in July'; sources are not fully consistent on the exact date, so only month-level precision (June 2026) is used here pending clarification. The CMF stated it never supervised Orionx's operations and has no power to order the return of customer funds, advising affected users to pursue independent legal remedies. This regulatory gap is a contextual factor in the case but is not itself an allegation against Díaz personally.","heading":"Regulatory Status of Orionx","sources":[{"url":"https://crypto.news/tether-backed-orionx-closes-over-7m-custody-gap/","name":"Tether-backed Orionx closes over $7m custody gap - crypto.news","type":"news_article","credibility":2},{"url":"https://news.bitcoin.com/exchanges/orionx-halts-operations-after-audit-uncovers-7m-financial-hole/","name":"Orionx Halts Operations After Audit Uncovers $7M Financial Hole - Bitcoin.com News","type":"news_article","credibility":2}],"severity":"medium"},{"content":"Tether led Orionx's Series A financing round in June 2025 to support the exchange's expansion of stablecoin infrastructure across Latin America. This investment took place years after the transactions at issue in the criminal complaint (alleged to have occurred between 2018 and 2021) and there is no indication in available reporting that Tether was aware of the alleged custody gap at the time of its investment. Following the shutdown, at least one report noted that Tether's announcement of the investment had been removed from its website.","heading":"Tether Investment Context","sources":[{"url":"https://news.bitcoin.com/exchanges/orionx-halts-operations-after-audit-uncovers-7m-financial-hole/","name":"Orionx Halts Operations After Audit Uncovers $7M Financial Hole - Bitcoin.com News","type":"news_article","credibility":2},{"url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets","name":"Tether-Backed Orionx Shuts Down After $7M Custody Gap - Cointelegraph","type":"news_article","credibility":2}],"severity":"low"}],"timeline":[{"date":"2017","event":"Orionx founded in Chile as a retail cryptocurrency exchange by Joaquín Díaz along with Roberto Zibert and other co-founders; later expanded into payments and financial services across Chile, Peru, Colombia, and Mexico.","source":"FinanceFeeds","source_url":"https://financefeeds.com/tether-backed-orionx-files-criminal-complaint-over-missing-crypto-assets/"},{"date":"2018 to 2021","event":"Period during which Orionx's criminal complaint alleges customer custodial assets were diverted to wallets outside the company's control, including transfers to an account linked to Díaz.","source":"Bitcoin.com News","source_url":"https://news.bitcoin.com/exchanges/orionx-halts-operations-after-audit-uncovers-7m-financial-hole/"},{"date":"2025-06","event":"Tether led Orionx's Series A financing round as part of a strategy to expand stablecoin infrastructure across Latin America.","source":"Cointelegraph","source_url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets"},{"date":"2026-06","event":"Chile's Financial Market Commission (CMF) rejected Orionx's application for registration and authorization to provide crypto financial services (reported by different outlets as either June 19 or July, precise date not confirmed).","source":"crypto.news","source_url":"https://crypto.news/tether-backed-orionx-closes-over-7m-custody-gap/"},{"date":"2026-08","event":"Orionx COO Thomas Mac Millan reportedly identified a significant mismatch between recorded balances and actual custodial holdings.","source":"FinanceFeeds","source_url":"https://financefeeds.com/tether-backed-orionx-files-criminal-complaint-over-missing-crypto-assets/","date_evidence":"Orionx Chief Operating Officer Thomas Mac Millan reportedly identified a large mismatch on Aug. 27","date_original":"2026-08-27"},{"date":"2026-09","event":"Orionx filed a criminal complaint with Chile's Public Ministry against Roberto Zibert and Joaquín Díaz alleging disloyal administration in connection with the custody shortfall.","source":"Cointelegraph","source_url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets","date_evidence":"Orionx submitted a criminal complaint on Sept. 2 against former general manager Roberto Zibert and former technology manager Joaquín Díaz.","date_original":"2026-09-02"},{"date":"2026-09","event":"Orionx began permanently closing its operations, halting withdrawals and initiating wind-down proceedings.","source":"Cointelegraph","source_url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets","date_evidence":"Chilean crypto exchange Orionx began permanently closing its operations on Sept. 3 after a forensic audit identified a custody shortfall exceeding $7 million.","date_original":"2026-09-03"},{"date":"2026-09","event":"A customer, Pedro Molleda, filed a separate criminal querella against Zibert, Díaz, and other former staff over an unrecovered bitcoin investment, and asked prosecutors to evaluate Orionx's corporate criminal liability.","source":"Diario Financiero","source_url":"https://www.df.cl/mercados/bolsa-monedas/cierre-de-orionx-suma-nueva-querella-criminal-contra-sus-exsocios-y"},{"date":"2026-09","event":"Both Díaz and Zibert publicly and categorically denied the allegations against them in an email to Orionx clients, requesting an independent investigation.","source":"La Cuarta","source_url":"https://www.lacuarta.com/chile/noticia/que-pasa-con-orionx-fundadores-acusados-rechazan-categoricamente-los-cargos-en-su-contra/"}],"sources_used":[{"url":"https://cointelegraph.com/news/orionx-shut-down-7-million-move-outside-wallets","name":"Tether-Backed Orionx Shuts Down After $7M Custody Gap - 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