Upbit to delist Bonk on Sept. 7 as meme coin falls to lowest level since November 2023

Upbit said it will delist Bonk on September 7, removing the meme coin's KRW and USDT trading pairs after concluding that security and disclosure problems tied to the project had not been resolved. The decision sent BONK to an intraday low of $0.00000255, its weakest level since November 2023, before it recovered slightly to trade at $0.00000264, down about 7% on the day. The exchange said a month-long review that began on July 7, when BONK was designated a cautionary asset, ended with a decision to terminate trading support. The warning came shortly after BONK DAO confirmed a $20 million governance attack on its treasury. Upbit said the cause of the security incident remains unidentified or unremedied and also faulted the project's operators for failing to disclose material information in a timely manner. Bithumb, meanwhile, removed BONK from its delist watchlist, signaling that trading support for the token continues on that platform even as Upbit prepares to halt trading. The divergent moves underscore that South Korean exchanges assess tokens independently, so a delisting by one venue does not automatically trigger removal elsewhere. Users will be able to withdraw BONK from Upbit for 30 days after trading ends, until October 7.