Upbit Delists Bonk Over Security Concerns and Insufficient Disclosure

South Korea's largest cryptocurrency exchange, Upbit, has announced that it will delist Bonk (BONK), one of the most recognizable memecoins in the Solana ecosystem. The notice was posted on August 7, 2026, and sets the delisting for September 7 at 15:00 KST.

The decision follows a series of security incidents affecting BONK, including a $20 million hack on July 6, 2026, in which an attacker drained funds from BonkDAO's treasury. The exchange cited both unresolved security incidents and insufficient disclosure as reasons for the delisting.

BONK's all-time high was set on November 20, 2024, at roughly $0.00005898. At the time of the Upbit notice, the token was trading near $0.0000025, with a market capitalization of about $227 million and a 24-hour trading volume of roughly $56 million.

The delisting may impact liquidity and sentiment for BONK on other exchanges, but it does not necessarily determine whether the token will survive globally. BonkDAO must address treasury security concerns before September 7 to regain exchange trust.