The achievement name is also a reference, namely to the Stanley Kubrick movie "Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb"

>>3 If you hand it over you also gain 3 high praise morals and you gain an achievement. Also you find who's the culprit of the bomb.

>>2 Little more info! it takes 6 high praise morals to dump the bomb in the water but you get 3 back in return! also counts as 3 towards the saint achievement since I got it after (also I forgor to add my name) Also nothing back happens if you dumb the bomb ^u^ instead of handing it over

I got a message for Jing yuan when going back near the dragon prayer terrace starskiff (in the new alchemy commission area) after the message you are given the option to throw it in the water (or I assume give it to Jing yuan and the 10 lord I haven't tested if I can yet or not) I haven't throw the bomb away yet because I was wait to see if anyone else has but couldn't find anything yet

Maybe you'll be able to put it in the trash can under the administrative District