Upbit delists BONK amid exchange split
- Upbit has ended trading support for BONK (CRYPTO:BONK) after citing unresolved security and disclosure concerns.
- Bithumb lifted its BONK caution designation in August after deciding the issues had been resolved.
- The split leaves BONK facing different exchange decisions over the same security incident.
Upbit has ended trading support for BONK (CRYPTO:BONK), removing the Solana-based meme coin from two Korean trading pairs.
Upbit has removed the BONK/KRW and BONK/USDT pairs at 3pm KST on September 7, while withdrawals remain available until October 7.
Bithumb lifted its BONK trading caution on August 7 after deciding the reasons for the warning had been resolved and resumed deposits that day.
The exchanges had both flagged BONK on July 7 over a security incident and concerns about timely disclosure of important information.
The incident involved BonkDAO, a community-managed treasury that operates separately from the wider BONK token ecosystem, according to the BONK project.
Blockchain security firm Halborn estimated losses from the BonkDAO attack at about $20 million after a governance proposal transferred 4.43 trillion BONK from the treasury.
BONK continues to trade on other centralised exchanges and Solana-based decentralised markets, leaving its wider market access intact despite Upbit's decision.
At the time of reporting, Bonk price was $0.053149.
