Upbit Delists BONK Following Security Incident
Bonk (BONK)
Editor:
Eugene Serbin
Grafa.com reports that Upbit has ended trading support for BONK, removing the Solana-based meme coin from two Korean trading pairs. The exchange removed the BONK/KRW and BONK/USDT pairs at 3pm KST on September 7, while withdrawals remain available until October 7. This action follows a security incident flagged on July 7 by both Upbit and Bithumb regarding timely disclosure of important information.
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 incident involved BonkDAO, a community-managed treasury operating separately from the wider BONK token ecosystem. Blockchain security firm Halborn estimated losses from the BonkDAO attack at about $20 million.
This figure resulted from a governance proposal that transferred 4.43 trillion BONK from the treasury. BONK continues to trade on other centralised exchanges and Solana-based decentralised markets. This leaves its wider market access intact despite Upbit's decision.
How the market reacted
Whalio's own Binance spot order flow for BONK, measured when this story was written up on 7 September 2026. Not the outlet's figures.
Whalio data shows a price of $0.000003410 with a 24-hour buy ratio of 52.5%, indicating a slight majority of buyers over the full day. However, the 1-hour buy ratio has surged to 61.1%, while the 4-hour ratio dropped to 35.5%, suggesting short-term buying pressure is building after a recent dip. The 1-hour volume delta is positive at +$226,796, contrasting with a negative 4-hour delta of -$850,308. This means recent trades show net inflows, whereas the broader four-hour window saw net outflows. The 24-hour cumulative volume delta closed at -$488,229, indicating that over the last day, sellers outweighed buyers overall. Spot volume for the period was $7,505,067 across 35,310 trades.
The latest daily buy ratio of 48.9% sits at the 38th percentile of the last 324 days, against a median of 49.6% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for BONK, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.7%, making the latest day's 52.5% reading an unusual increase of 3.8 points. Volume was 2.03 times the weekly average, signaling significantly higher activity than usual. The price changed by +22.2% over eight days, despite the weekly volume delta being negative at -$45,819. Only 2 of the 7 days saw net buying, highlighting that this recent uptick is not the norm for the coin. This day stands out as an unusual spike in volume and buy ratio compared to the broader weekly trend.