- The malfunction allowed 32 wallets to claim 623 million PYBOBO within four seconds.
- The incident drained nearly the entire 625 million reward pool almost instantly.
- The glitch coincided with OKB’s price underperformance.
The cryptocurrency market experienced another wave of selling on Friday as Bitcoin fell about 10% in the past 24 hours to $81,865 at the time of reporting.
The global crypto market capitalization now stands at approximately $2.81 trillion after the one-day decline.
Amid the broader market downturn, OKX’s native token underperformed, with its price slide occurring as the exchange faced scrutiny following an unexpected contract glitch in its recent Boost reward campaign.
A scheduled distribution of PYBOBO tokens ended with virtually the entire reward pool drained in a matter of seconds — and it appears the cause was a contract flaw rather than overwhelming demand.
🚨UPDATE: OKX’s PYBOBO Reward Pool drained in seconds.
Users report massive claims cleared almost instantly, showing the insane demand and liquidity frenzy. pic.twitter.com/mER1GrLeRJ
— The Crypto Times (@CryptoTimes_io) November 21, 2025
OKX’s token lagged behind the broader cryptocurrency market over the same 24-hour period.
OKB fell from around $115 to about $94 during the reporting window, representing an intraday decline of more than 18%.
The token experienced intensified selling pressure as reports of the contract malfunction spread across the community.
A four-second glitch emptied 99.68% of incentives
On-chain data shows 32 addresses claimed 623 million PYBOBO tokens, effectively removing nearly the entire 625 million allocated for the distribution event.
Most strikingly, the complete sweep occurred in just four seconds, catching both the team and participants off guard.
Investigations indicate a multifunction within the OKX Boost claim contract allowed unusually rapid claims, enabling a handful of addresses to receive far larger allocations than intended.
Blockchain tracker OKLink flagged a wallet that claimed about 37.847 million tokens, valued at roughly $18,600.
Overall, 99.68% of the reward pool had been claimed by the time the team detected the problem.
The pattern of transactions points to an unintended contract behavior that pushed distributions beyond their specified limits rather than a normal surge in user demand.
OKX halts claims while investigating
OKX acknowledged the issue promptly after reports emerged and confirmed it would pause PYBOBO claims until the contract problem is resolved.
Claiming for PYBOBO rewards will be postponed.
We’ll provide updates here once the issue has been resolved.
— OKX Wallet (@wallet) November 21, 2025
The temporary suspension aims to prevent further potential losses while the project conducts a thorough review of the distribution contract.
The team said they will publish updates as the investigation proceeds.
The incident has reverberated across the OKX ecosystem, with OKB bearing the brunt in the form of significant selling pressure.
OKB price outlook
OKB touched a daily low near $94 after dropping below the $100 psychological level.
The token fell from a daily high of about $115, losing over 18% in the prior 24 hours.
Daily trading volume for OKB surged roughly 100%, signaling elevated speculative activity and increased turnover.
Given the current market pressure and the fallout from the reward distribution issue, OKB may face further downside before stabilizing, as sellers continue to influence the market.