Critical Altcoin Decision from South Korean Giants: Price Plunges After Announcement!

South Korea’s largest cryptocurrency exchanges, Bithumb, Upbit, and Coinone, have made a critical announcement regarding a popular memecoin.

According to the announcement made on July 7, 2026, by Bithumb, Upbit, and Coinone, they have added Bonk (BONK) to the “investment warning” (거래유의종목) list. In the notice released by Bithumb, it was stated that deposits and withdrawals for BONK are currently suspended, but withdrawals will be resumed following the announcement. Bithumb also warned investors about issues such as network security breaches and a lack of transparency.

While Bonk (BONK) continues to trade in the South Korean Won (KRW) pair, the exchange will re-evaluate the asset’s status. Investors will await the final decision regarding BONK’s future on the exchange following an investigation to be conducted in the first week of August (between August 3-7). During this period, the asset’s network security and information-sharing processes will be closely monitored.

The exchange will increase its oversight of the asset during the investment warning period to ensure a safe trading environment. Accordingly, if network security vulnerabilities are not addressed or necessary explanations are not provided within the specified timeframe, delisting the asset may be considered. While investors are asked to trade with risks in mind during this period, the exchange emphasized that it will remain in communication with outside experts and the foundation. It was also noted that transactions could be restricted or additional measures could be taken during the investment warning period.

According to CoinGecko data, BONK lost approximately 10.03% of its value in the last 24 hours following the Bithumb announcement, dropping to the $0.00000432 level. Facing selling pressure after the negative news from the exchange, the asset continues to trade at these low levels at the time of writing.