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Following
BONK 
DOGE 
SHIB Upbit announced that it will remove Solana Ecosystem's meme coin BONK. After the news was announced, BONK prices fell to US$0.0000255 in the day, the lowest level since November 2023. In the past month, the token has fallen 30.5%, lagging behind the overall recovery of the cryptocurrency market.
Why did Upbit remove BONK?
Upbit announced that it will stop supporting the BONK/KRW and BONK/USDT trading pairs at 15:00 Korean Standard Time on September 7. After trading support ends, all outstanding orders will be automatically cancelled. The exchange said that after review, BONK no longer met its listing criteria. The reasons for the removal include that the cause of the security incident affecting the token remains unclear and the problem has not been completely resolved. Upbit also pointed out that the project team failed to inform investors of important developments in a timely manner. The decision was made after about a month of review. Upbit listed BONK in the "Assets to Concern" category on July 7, and subsequently assessed that the problem had not been resolved and finally decided to remove it.
The US$20 million attack became the trigger
BONK's removal process began with an approximately US$20 million governance attack on the BONK DAO treasury. After the incident, the safety and transparency of the project were questioned, and Upbit also closely monitored the token. In its latest assessment, the exchange stated that security risks still exist and do not meet listing standards.
Why did the price of BONK fall sharply?
After the news of the removal came out, BONK fell to US$0.0000255 within the day. As of press time, the trading price of the token was approximately US$0.0000264, a intraday decline of nearly 7%. The performance in the past month has been more pronounced. BONK fell 30.5% over the same period, not only underperforming the overall cryptocurrency market, but also lagging behind the meme coin sector. During the same period, major meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) saw only single-digit declines, while BONK became one of the weakest performers among the large meme coins.
What are BONK investors facing now?
Upbit stated that BONK holders can still withdraw tokens within a certain period of time after the token is removed from the shelf.
BONK Schedule
September 7, 2026: BONK/KRW and BONK/USDT trading support is terminated.
October 7, 2026: The withdrawal period expires.
The exchange also warned users that BONK deposited after the decision to remove the shelves may not be credited to their accounts. In addition, Upbit announced that it will no longer support BONK's airdrops, wallet updates and hard fork processes.
Why is it important?
Upbit is considered to be one of South Korea's largest individual investor cryptocurrency exchanges. The removal of BONK from the platform may not only put pressure on prices, but may also affect its liquidity. The market is currently concerned about whether other South Korean exchanges will take similar decisions to remove them.
This content is based on general market data and does not constitute investment advice. It is recommended that you study on your own.
