BONK News Today: Upbit's removal caused prices to plummet by about 10%

Today's BONK news focuses on major announcements from Upbit, South Korea's largest cryptocurrency exchange. The exchange will remove $BONK on September 7, 2026. The removal of Solana meme came after the project failed to resolve security incidents and weak information disclosure issues. With the news that Upbit was removed from the market, the BONK coin price plummeted by about 10%, the 24-hour trading volume soared by 200%, and holders sold out one after another.

Details of BONK's removal from Upbit: Timeline and trading pairs

The exchange's official announcement clarifies the terms of removal:

Date of removal: September 7, 2026, 15:00 (Korean Standard Time)

Removal of trading pairs: BONK/KRW and BONK/USDT

Unclosed orders in the above transaction pairs will be cancelled at that time.

The withdrawal channel will remain open until October 7, 2026.

Recharge stopped earlier on July 7, 2026, when Upbit first marked $BONK as a warning asset and initiated a formal review. About a month later, the exchange determined that the problem remained unresolved and immediately entered the comprehensive removal process.

Today's price of BONK

Today's price of the meme coin is close to a three-year low. After the news of Upbit-BONK, the token fell by more than 10%, then rebounded slightly and is currently down about 8%. Trading volume surged 200%, indicating a sell-off was underway.$ BONK's current price has fallen below all key moving averages.

Current price: US$0.000002537, down 8.16%

Market value: US$223.5 million

Trading volume: US$68.3 million, up 200.8%

Fully diluted valuation (FDV): US$226 million

Circulation supply: 87.99 trillion $BONK

The broader altcoin trend has also increased pressure. The CoinMarketCap Altcoin Seasonal Index fell 29.4% in a week, from 51 to 36, indicating general weakness in small tokens.

Why is BONK important and the immediate impact of this removal on holders

$BONK will be launched as meme on Solana on Christmas Day 2022. Developers distribute half of their total supply of 100 trillion tokens for free to the community, including NFT holders, artists and active wallets, with no early venture capital share. This fair start helped boost Solana's activity during the post-FTX downturn.

The project is developing rapidly:

Integrate hundreds of applications in DeFi, NFT, gaming and payments

Tokens have built-in fee-driven destruction mechanisms

launched a launch platform called Bonk.fun, Used to issue new meme tokens

Governance through BonkDAO

It is this governance system that has caused the current trouble. On July 6, 2026, an attacker used the BonkDAO vulnerability to gain voting rights of just over 1% of the total supply for approximately US$4.4 million. The voting rate for one key proposal (BIP #76) was just close to 2.9%. The proposal passed with a narrow vote, and about $20 million flowed out of the BonkDAO vault. No code was hacked, and the attack took advantage of low voter turnout in public voting.

Holders now face clear deadlines:

Transfer $BONK from Upbit before October 7, 2026, or face the risk of restricted access

Expect liquidity to tighten once the trading pair is removed from Upbit

Expect that as South Korean holders move funds elsewhere, Price volatility will intensify

Other exchanges are expected to be more cautious about weak governance meme

Bithumb takes the opposite stance on BONK removal from the watch list

Bithumb, another top South Korean exchange, has taken the opposite action. It removed $BONK from its removal watch list, reversing a previous warning status and saying $BONK is now in compliance with its compliance and stability rules.

These two initiatives are in sharp contrast. Upbit believes the same governance failure is serious enough to terminate the transaction, while Bithumb judges the current status of the token is acceptable. BONK's access to the Korean market has now been divided in two.

Where will $BONK go after the Upbit removal date finally arrives?

The timetable has been set: Upbit trading will end on September 7, 2026, and withdrawals will close on October 7, 2026. After these dates, the outstanding questions are how the BonkDAO team will fix its security flaws and whether other exchanges will follow Upbit's path or Bithumb's approach.

That's the whole picture of today's BONK news. The bigger lesson goes beyond a single token: Low voting rates can turn public DAO voting into a real attack point.

Disclaimer: This article is for information reference only and does not constitute financial or investment advice. There are significant risks in the cryptocurrency market. Before making any investment decisions, be sure to study for yourself.