Upbit, one of South Korea’s largest cryptocurrency exchanges, announced three separate decisions concerning altcoins on the same day. The exchange is preparing to end trading support for BONK, while Synthetix (SNX) has been placed on its trading caution list. Block Street (BSB), meanwhile, has been added to three spot markets.
The most significant announcement concerned BONK. Upbit decided to delist the Solana-based meme coin following a review that lasted approximately one month.
BONK trading will end on September 7
Upbit will close the BONK/KRW and BONK/USDT trading pairs at 3:00 p.m. Korea Standard Time, or 9:00 a.m. Turkish time, on September 7, 2026. Users will be able to withdraw their BONK holdings until October 7.
The exchange first placed BONK on its trading caution list on July 7. At the time, Upbit cited shortcomings in the project’s measures against security incidents and the adequacy of its disclosures.
During the month-long review period, Upbit examined the project’s explanations and the measures it had taken. However, the exchange concluded that the issues behind the caution designation had not been resolved. It therefore decided to terminate trading support for BONK.
All open BONK orders will be automatically canceled when trading support ends. The delisting does not mean that users will immediately lose their holdings. However, BONK holders on Upbit will need to follow the timetable closely, as withdrawal support will end on October 7.
BONK fell 8% following the announcement.
SNX returns to the trading caution list
Upbit also placed the SNX/BTC trading pair on its trading caution list. The review covers changes to SNX’s total supply and circulating supply plans, as well as concerns about the project’s operational legitimacy, sustainability and actual progress.
SNX deposits were suspended on August 7. Upbit plans to announce the outcome of its review during the week of August 24–28.
The caution designation does not mean that SNX will necessarily be delisted. Upbit could remove the warning, extend the review period or terminate trading support depending on its findings.
Bithumb also placed SNX on its trading caution list at around the same time. After examining the project’s current operations and key initiatives, the exchange said it had identified several shortcomings in SNX’s utility and business performance.
BSB listed on three spot markets
Upbit’s third decision of the day concerned Block Street. The exchange opened BSB trading in its KRW, BTC and USDT markets. Deposits and withdrawals are supported exclusively through the Ethereum network.
Block Street develops liquidity infrastructure for tokenized assets. Its token recorded high volatility following the listing announcement, while market data showed that BSB’s 24-hour trading volume increased by more than 400%.
Upbit therefore took three different approaches to altcoins on the same day: it moved to delist one asset, placed another under review and opened three spot markets for a newly listed token.
