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Tether-backed Orionx announces permanent shutdown; audit uncovers a shortfall of over $7 million in custodial assets.

2 hours ago

Chilean crypto exchange Orionx, backed by Tether, announced it is initiating permanent closure procedures. A forensic audit previously uncovered that over $7 million in customer custodial assets were transferred to wallets not managed by the platform. Withdrawals are currently suspended, and the company stated its sole priority is to return customer assets as much as possible. The audit revealed that Orionx’s system-recorded balances of BTC, ETH, XRP, and POL exceeded the actual holdings in its custodial addresses. The firm has filed criminal complaints against two co-founders and former executives, Roberto Zibert and Joaquín Díaz, alleging the relevant assets were transferred between 2018 and 2021. The two denied the allegations, claiming they never harmed customer interests, and the cause of the asset shortfall remains unclear. Tether exclusively led Orionx’s Series A funding round in June 2025, approximately 15 months prior to the closure announcement. As of press time, Tether and Orionx had not responded to requests for comment.

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Maji's total long position stands at $146 million, with a current unrealized profit of $2.56 million.

According to TradingBeats monitoring, the address linked to "Big Brother Ma Ji" currently holds approximately $146 million in BTC and ETH long positions, with a combined unrealized profit of around $2.56 million. The account has a net asset value of roughly $9.139 million and an overall leverage ratio of about 15.95x. Its ETH holdings consist of 25x fully leveraged long positions totaling 39,325 coins, valued at approximately $98.39 million, with an average entry price of $2,444.83, current unrealized profit of around $2.25 million, and a liquidation price of $2,331.21. Its BTC holdings are 40x fully leveraged long positions totaling 593 coins, valued at roughly $47.39 million, with an average entry price of $79,384.2, current unrealized profit of about $310,000, and a liquidation price of $68,731.5.

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Analyst: Ethereum’s consolidation pattern is bullish; a decisive break above $2,530 could push its price to $2,700.

Crypto analyst Ali Charts said in a post that Ethereum has been consolidating in the $2,370 to $2,530 range since August 26, building momentum for the next market move. He noted that a close outside this range on the hourly candlestick is required to confirm the breakout direction, though the current market structure leans bullish. If ETH breaks above $2,530 convincingly, it could trigger a rally toward $2,700.

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China's National Anti-Fraud AI APP Goes Live

Beating AI News Brief: Under the guidance of the Criminal Investigation Bureau of China’s Ministry of Public Security, the "National Anti-Fraud AI" App developed by the Shanghai Municipal Public Security Bureau has officially launched. Users input suspicious situations they encounter, and the app will assess fraud risks, identify fraud patterns, then provide prevention advice and relevant cases. Authorities noted that the app leverages large language models, multimodal models, and agent technologies, but did not disclose the specific underlying base model. It is essentially an upgraded version of the "803 Anti-Fraud Agent". The Shanghai Anti-Fraud Center rolled out the "803 Anti-Fraud" service at the end of 2025, making it available nationwide, with core functions including intelligent Q&A, anti-fraud information, and an anti-fraud dictionary.

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The US stock market will be closed for the entire day on Monday, while trading in gold, silver and oil will end early.

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Solana ecosystem token STONK’s market cap briefly surged past $138 million, posting a 311% gain in 24 hours.

According to GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly hit a market cap of over $138 million, marking an all-time high. It is currently valued at $122 million, with a 311% 24-hour gain and $54.7 million in trading volume over the same period. BlockBeats reminds users that related tokens are highly volatile, so investors should exercise caution.

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Arbitrum co-founder clarifies that the remaining locked ARB held by investors and the team accounts for 7.7% of the total supply, with all of it to be unlocked in March next year.

Arbitrum co-founder Steven Goldfeder published a post noting that the market has a misunderstanding regarding ARB's supply, often counting tokens held by the DAO as part of locked supply. He explained that the unlock of tokens for ARB investors and team members is nearly complete, with all such tokens set to be fully unlocked by March next year. The portion of tokens yet to be unlocked currently accounts for approximately 7.7% of the total ARB supply. The Arbitrum DAO treasury currently holds 2.84 billion ARB, though these tokens are not traditional locked tokens—they are controlled by circulating token holders, and their transfer requires approval via a vote of other token holders.

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