The 20-year-old Brazilian made a social media video laughing and exchanging jokes with teammates Jonathan Cafu and Otavio and friends outside Bordeaux’s stadium following the club’s 2-0 home defeat to Caen on Tuesday.
The loss left Bordeaux hovering just about the relegation zone in Ligue 1 having taken 23 points from 21 games.
The club said Malcom had showed “a lack of maturity, solidarity and respect towards the club and all of its staff”.
Cafu, 26, and Otavio, 23, have also been ordered to explain themselves.
Malcom has caught the eye of Arsenal and his agents were reportedly spotted in London to discuss a deal as the Premier League club seek a replacement for wantaway Chilean striker Alexis Sanchez.
The Sao Paulo-born striker started his career at Corinthians and joined Bordeaux in 2016.
He has scored seven goals this season, showing the potential that has attracted the interest of some of Europe’s big guns.
Know more about Sport360 Application