The former world champion, who lost his bareknuckle debut against Artem Lobov at BKFC 6 in June 2019, has regularly exchanged insults with UFC star McGregor on social media over the past couple of years.
Malignaggi's feud with McGregor originates from their fights behind closed doors in the build-up to McGregor's crossover bout against Floyd Mayweather Jr, with both fighters claiming they regularly got the better of the other in sparring.
McGregor, 32, lost to Dustin Poirier on Saturday night and his sparring rival wasted no time in calling out the Irishman after the defeat.
When asked how close he is to a showdown with McGregor, Malignaggi told SiriusXMBoxing: "I mean, I wouldn't put it past anything but I don't think Conor McGregor is ever going to want to fight me.
"The only way that I'd fight Conor McGregor is if it's winner-takes-all at this point.
"I wouldn't fight Conor McGregor, there wouldn't be any kind of negotiations it's either winner-takes-all or we don't fight.
"At this point he's got everybody convinced he's better and there's more than enough money in the pot.
"He makes more money fighting me than anybody else other than maybe Jake Paul.
"So, I don't see him taking that kind of deal, so there's probably not going to be a fight."
Malignaggi (36-8, 7 KOs), 40, of Bensonhurst, Brooklyn, is now reportedly in talks to return to the ring against Corey 'B' Bonalewicz in Miami on October 10.
Bonalewicz, who initially rose to fame because of his viral clips on the lip-synching app TikTok, insists that Malignaggi's lack of punching power means he has nothing to fear against the former world champion.
"He can barely throw a punch. He had surgery on his hands. He's going to break his arm," he told Akin "Ak" Reyes during an interview for DAZN. "It's like fighting Captain Hook.
"I've gotta [sic] watch out for one hand. I lifted him up. He's getting a little heavy. He's probably getting slower."
"If you're going to go after this, you can't be worried.
"Yeah, he'll hit me, but how many knockouts does he have? Seven, back in his heyday.
"If I fight Paulie, I'm not going to knock him out - nobody can knock him out.
"I just want to make him look dumb, and show I can move, and put hands on him. I'm not trying to fight.
"I've been fighting for seven months now. I'm not a pro. I'm barely an amateur. I'm training at Gleesons."News Now - Sport News