$BONK A Upbit, one of the largest cryptocurrency exchanges in South Korea, has officially ended trading support for the memecoin BONK. The shutdown was driven by concerns about security incidents and the project’s governance/transparency failures (such as the draining of funds from the BonkDAO treasury).
The removal of BONK is part of a stricter stance by Upbit and South Korean regulators regarding liquidity, real utility, and cryptocurrency governance on the platform.
Other cryptocurrencies and tokens that have faced delisting or recent alerts on Upbit include:
JasmyCoin (JASMY), Storj (STORJ), and ThunderCore (TT): Programmed removal due to inconsistencies in the business plan, lack of transparency in token issuance, and concerns about the projects’ sustainability.
Orchid (OXT): Trading support has been discontinued.
NKN (NKN): Delisted from the platform’s trading pairs.
Drift Protocol (DRIFT): Removed from the KRW, BTC, and USDT pairs.
Oasys (OAS) and GoChain (GO): Trading and support were ended following periodic reviews.
Synthetix (SNX): Placed in a trading warning status and had deposits suspended due to discrepancies in the issuance plans and the project’s viability.
The removal of BONK is part of a stricter stance by Upbit and South Korean regulators regarding liquidity, real utility, and cryptocurrency governance on the platform.
Other cryptocurrencies and tokens that have faced delisting or recent alerts on Upbit include:
JasmyCoin (JASMY), Storj (STORJ), and ThunderCore (TT): Programmed removal due to inconsistencies in the business plan, lack of transparency in token issuance, and concerns about the projects’ sustainability.
Orchid (OXT): Trading support has been discontinued.
NKN (NKN): Delisted from the platform’s trading pairs.
Drift Protocol (DRIFT): Removed from the KRW, BTC, and USDT pairs.
Oasys (OAS) and GoChain (GO): Trading and support were ended following periodic reviews.
Synthetix (SNX): Placed in a trading warning status and had deposits suspended due to discrepancies in the issuance plans and the project’s viability.