Upbit Delists BONK, Places Synthetix on Warning

The popular cryptocurrency exchange Upbit has announced it will delist the token BONK from all trading pairs on September 7, forcing holders to make a swift decision. The exchange has pointed to unresolved security incidents and a lack of transparent material disclosures as reasons for the delisting.

BONK is native to Solana's ecosystem and had maintained a visible presence on Upbit despite its developer momentum. However, the token will no longer be available for trading after September 7, although withdrawals will remain open until October 7.

The delisting of BONK with a fiat pair like BONK/KRW cuts off a major liquidity channel and may lead to thinner order books and higher slippage. This move by Upbit reflects a stricter posture from South Korea's leading exchanges, which have intensified since the Terra collapse.