Upbit Delists Bonk Inu (BONK) Over Security and Compliance Concerns
Upbit, a South Korean cryptocurrency exchange, has announced that it will delist Bonk Inu (BONK) due to unresolved security and compliance issues. This decision is part of Upbit's policy for delisting digital assets, which requires projects to uphold strict security procedures, make timely public disclosures, and exhibit strong governance.
According to Upbit, the exchange discovered unresolved problems with security incidents involving wallets or the underlying blockchain infrastructure during its examination in accordance with South Korea's guidelines for virtual asset listing. The project's handling of material disclosures was also criticized by the exchange, which claimed that crucial information was not conveyed in a timely and suitable manner.
The trading support for BONK will expire on September 7, 2026, at 15:00 KST, and all pending buy and sell orders will be automatically canceled. Users will have until October 7, 2026, to withdraw their BONK holdings. This delisting is a significant setback for the Bonk project in the Korean market but does not affect its accessibility on foreign cryptocurrency exchanges.