Tether-backed exchange suddenly halts withdrawals ahead of shutdown

Orionx is freezing all withdrawals to ensure "fairness" after a $7 million gap was found in client assets. While they sue their co-founders for allegedly siphoning funds to private wallets, users are locked out of their own Bitcoin and Ethereum. Is it ever justifiable for an exchange to hold your money hostage to prevent a bank run, or is this "fairness" argument just a cover for total failure? Should you be punished for an exchange's internal theft? What’s your take?
This summary was generated by AI