Upbit to delist Bonk on Sept. 7, puts Synthetix under review

Upbit will remove Bonk from all trading pairs on September 7, ending BONK/KRW and BONK/USDT trading while allowing withdrawals until October 7. The exchange cited unresolved security incidents and insufficiently transparent disclosures, highlighting a stricter listing approach on South Korean platforms. Separately, Upbit placed Synthetix under a trading warning designation and suspended deposits for the SNX/BTC pair from 4:30 p.m. KST on August 7, citing concerns around issuance plans, project viability and sustainability progress. The review window runs from August 24 to 28, and if those issues are not resolved, the warning may escalate to a full delisting. The moves underscore how tighter compliance expectations after the Terra collapse are reshaping token access on Korean exchanges, where KRW pairs often serve as an important liquidity and price-discovery channel for retail traders.

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