Upbit delists BONK memecoin, sending price to nearly 3-year low

South Korean cryptocurrency exchange Upbit announced it will delist the Solana-based memecoin BONK on September 7, 2026, citing unresolved security issues and poor material disclosures. The news triggered an immediate price drop of over 8%, pushing BONK to an intraday low of $0.00000255, its lowest level since November 2023. Upbit users have until October 7, 2026, to withdraw their holdings. The decision reflects a broader, more stringent regulatory push by South Korean exchanges to protect investors.

Upbit delisting of BONK

• ▪South Korean cryptocurrency exchange Upbit announced on August 7, 2026, that it will delist the Solana-based memecoin Bonk (BONK)
• ▪Upbit will end trading support for BONK on September 7, 2026, at 15:00 KST, automatically canceling all pending buy and sell orders

Security compliance violations

• ▪Upbit criticized the BONK project's handling of material disclosures, stating that crucial information was not conveyed in a timely and suitable manner
• ▪Upbit cited unresolved security issues involving wallets or the underlying blockchain infrastructure as a reason for delisting BONK

BONK price decline

• ▪Following the Upbit delisting announcement, the price of BONK fell to an intraday low of $0.00000255, its lowest level since November 2023
• ▪The price of BONK fell over 8% following the delisting announcement, extending a bearish trend that has dragged the token down nearly 70% since May

Withdrawal deadline October 7

• ▪Upbit users will have until October 7, 2026, to withdraw their BONK holdings from the exchange
• ▪Upbit advised investors holding BONK on the exchange to withdraw their assets before the October 7, 2026 deadline to avoid complications

South Korean regulatory standards

• ▪The delisting of BONK follows South Korean exchanges adopting a more stringent approach to investor protection and virtual asset listing guidelines
• ▪Upbit had previously designated BONK as a 'trading caution' asset in early July 2026 before conducting a follow-up evaluation