🚨 OrionX lost $7M and the CMF says: Don’t trust exchanges without permission!
On September 12, the CMF confirmed that OrionX was operating without authorization from the Commission and that, after a hack that left a gap of US$7 million, more than 12,000 users were left without access to their funds. The entity fined the platform 10.5 million pesos and ordered partial restitution. This shows that in Chile, local exchanges must be registered; otherwise, investor protection is nonexistent. My advice: never keep more than 1% of your portfolio in an exchange that isn’t under CMF supervision; always use a hardware wallet and back up the seed offline. Have you checked whether your exchange is authorized?
#OrionX #CMF #RegulacionChile #SeguridadCrypto
This is not financial advice. Verify before investing.
On September 12, the CMF confirmed that OrionX was operating without authorization from the Commission and that, after a hack that left a gap of US$7 million, more than 12,000 users were left without access to their funds. The entity fined the platform 10.5 million pesos and ordered partial restitution. This shows that in Chile, local exchanges must be registered; otherwise, investor protection is nonexistent. My advice: never keep more than 1% of your portfolio in an exchange that isn’t under CMF supervision; always use a hardware wallet and back up the seed offline. Have you checked whether your exchange is authorized?
#OrionX #CMF #RegulacionChile #SeguridadCrypto
This is not financial advice. Verify before investing.
