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Following
BONK Upbit will end its trading support for Bonk (BONK) at 15:00 (Korean Standard Time) on September 7, 2026. The South Korean exchange said in an announcement issued on August 7 that all outstanding BONK/KRW and BONK/USDT orders would be cancelled by then. The decision brought an end to a review launched the previous month. On July 7, 2026, the BonkDAO treasury was exploited by a $20 million exploit, causing the BONK price to fall by more than 9% in a few hours and prompting Upbit to designate the token as a trading prudent asset. 
Termination of Market Support for Bonk(BONK)
Termination Schedule: 2026-09-07 15:00 KST
t.co/3mTeg525PZ- Upbit Korea (@Official_Upbit)August 7, 2026
Withdrawal will close on October 7: What holders need to do
Withdrawal window will remain open for 30 days after the transaction deadline until October 7, 2026. After that, deposits sent to Upbit BONK addresses will not be counted, and the exchange said it will take a long wait to recover mistransferred funds after overdue periods. In addition, Upbit will stop supporting BONK-related airdrops, wallet upgrades and hard forks-standard service packages that are typically terminated when exchanges remove tokens.
The beginning and end of the incident: a $20 million hack followed by triggering a warning flag
The timeline begins on July 7, 2026, when BonkDAO disclosed that attackers stole approximately $20 million of BONK from its treasury through a malicious governance proposal. The precise technical steps by which the proposal passed-whether it took advantage of quorum thresholds, delegation loopholes, or other means-have not been publicly detailed at the time of writing. BonkDAO said law enforcement has been notified and efforts are under way to recover the funds and identify those responsible; no recovery results have yet been confirmed.
On the same day, Upbit listed BONK as a cautious asset for trading. This is a wait-and-see state for exchanges that are used for tokens that are not yet ready to be directly removed from the shelves but want to be marked as requiring additional review, and there is a review window to decide whether underlying issues have been resolved. But the problem has not been solved. Upbit's termination notice stated that after further review, the reason that originally triggered the caution flag "remains unresolved."
Date
October 2024- BONK launches on Upbit (BONK/USDT)
July 7, 2026- BonkDAO discloses a $20 million governance attack; BONK prices fall by more than 9%
July 7, 2026- Upbit lists BONK as a prudent asset for trading
August 7, 2026- Upbit announces termination of BONK trading support
September 7, 2026 15:00 KST - BONK/KRW and BONK/USDT trading terminated at Upbit
October 7, 2026-Withdrawal deadline
What is not mentioned in Upbit's announcement
Although that sentence was implicitly expressed, its intention was clear. It is a template used repeatedly by Upbit in its removal announcements, almost identical to the wording used by the exchange when it launched UXLINK, a social app that suffered an $11 million token coinage vulnerability, in November 2025. Unlike BONK, Upbit's UXLINK caution announcement directly points out the reasons: "the occurrence of security incidents such as hackers" and the issuer's failure to properly disclose information. BONK's cautious announcement did not give any explanation, and the day it was released happened to be the same day BonkDAO disclosed that it had been hacked. Upbit's announcement does not directly cite security incidents as the reason for removal like the UXLINK announcement. Whether the two are related has not been confirmed by Upbit.
BONK prices have felt the impact
Indicator
August 7, 2026 intraday low: US$0.00000255 (Lowest since November 2023)
Price at the time of writing: approximately US$0.0000264 (down approximately 7% in 24 hours)
One-month change: -30.5%
DOGE/SHIB for the same period: Single-digit percentage decline
BONK completely missed the broad rally that boosted key assets in July.
Still trading on other platforms: Will Bithumb and Coinone follow suit?
The removal did not affect the BONK market outside South Korea; the token is still traded on exchanges including OKX. What was removed was Upbit's order book-South Korea's deepest pool of retail liquidity for such tokens. Whether Bithumb or Coinone will issue their respective termination notices is an open question that will be revealed in the coming weeks; as of this writing, neither exchange has taken action.
