Upbit BONK Delisting: Trading Stops on September 7

High attention and emotional sentiment detected.

The decision hits Solana’s flagship memecoin at a weak moment. BONK already sat near a three-year low. Now Korea’s largest exchange has confirmed the token is on its way out.

What Upbit Announced

Upbit will remove two pairs, BONK/KRW and BONK/USDT. Trading on both ends at 15:00 KST on Monday, September 7, 2026.

At that moment, the exchange cancels every open buy and sell order on those pairs. So any resting order that has not filled simply disappears.

Withdrawals then stay open for 30 more days, until October 7, 2026. After that date, holders can no longer pull BONK off the platform.

Deposits are already closed. Upbit halted them around July 7 during the caution period. It also warns that any BONK sent now will not be credited.

The exchange confirmed no support for airdrops going forward. That block also covers wallet upgrades and hard forks tied to the token.

Why Upbit Delisted BONK

According to the official Upbit notice, the token failed the exchange’s trading support review on several counts. The reasons center on security and disclosure, not price.

Upbit points to unresolved security incidents, including hacking whose cause remains unidentified or unremedied. That standard covers the asset itself, the issuer’s managed wallets, and the ledger where the token moves.

The notice also cites a disclosure failure. Upbit says the issuing or operating entity did not report material matters in a timely way through appropriate channels.

Because these gaps create a high possibility of user harm, the exchange decided to cut support. Upbit stressed that the Upbit BONK delisting was not based on market performance or trading volume.

The BonkDAO Attack Behind the Decision

The trigger traces back to early July. On July 6, 2026, reports surfaced of a governance attack on BonkDAO worth roughly $20 million.

An attacker reportedly built up voting power, then pushed through a malicious proposal. That vote moved about 4.4 trillion BONK out of the DAO treasury.

Upbit, along with Bithumb and Coinone, responded on July 7 by flagging BONK as a caution asset and halting deposits. After a month of review, Upbit found the underlying issues unresolved, so it escalated to a full delisting.

The BONK team has publicly addressed the DAO incident. It said law enforcement got the case, and that it keeps working to recover funds. Yet no verified BONK statement has directly answered the Upbit decision itself.

How the Market Reacted

The news landed hard. BONK dropped to an intraday low near $0.00000255, its weakest level since November 2023. That figure comes from market data cited by BeInCrypto.

Reports put the initial drop somewhere between roughly 5% and 10%, with a sharp jump in volume. One outlet flagged a volume spike above 200% as traders rushed the exits. Market cap then compressed toward the $220 million area as sellers moved.

By August 8 and 9, the price steadied in a tight range around $0.0000025. Even so, BONK remains down roughly 30% to 38% over the past month. It also sits far below its November 2024 peak near $0.000058.

The token still counts more than a million holders, and its supply sits near 88 trillion. For now, the pain is concentrated in Korea rather than across the whole market.

What the Upbit BONK Delisting Means for Holders

The practical impact is a loss of a major Korean liquidity venue. The KRW pair in particular served as a key price-discovery channel for local retail traders.

Still, BONK is not disappearing. The token keeps trading on global exchanges such as Binance and Bybit, plus Solana DEXs.

Korean holders who want to keep their BONK should withdraw before the October 7 cutoff. They can move tokens to a self-custody Solana wallet, or to another exchange that still supports the asset.

Timing matters here too. Deposits are already blocked, so sending BONK to Upbit now risks losing it, and recovery after the window can be slow or impossible.

Anyone tempted to trade the volatility should size positions carefully. This article is not financial advice, and thin post-delisting liquidity can widen spreads and lift slippage.

What Comes Next for BONK

The immediate question is whether other Korean venues follow. One social report suggested Bithumb eased its own watchlist, though that claim remains unconfirmed.

The longer story is regulatory. The move fits a stricter pattern under Korea’s Virtual Asset User Protection Act and the DAXA best practices. Under that framework, unresolved security and disclosure gaps now trigger removal.

For BONK, the path back onto Upbit runs through the exact issues named in the notice. The security questions must close, and disclosure must improve. Until then, the Upbit BONK delisting stands as a clear marker of how Korea now polices memecoins.