- This malfunction allowed 32 wallets to siphon 623 million PYBOBO in just four seconds.
- The event nearly emptied the 625 million PYBOBO reward pool almost instantly.
- The glitch occurred as OKB was already underperforming in the market.
Crypto markets saw another sharp sell-off on Friday, with Bitcoin falling about 10% over 24 hours to around $81,865 at the time of reporting.
Global crypto market capitalization dropped roughly 10% to $2.81 trillion over the same period.
Among major tokens, OKX’s native token suffered a particularly steep decline as scrutiny intensified after an unexpected contract vulnerability affected a recent Boost rewards campaign.
The planned PYBOBO token distribution effectively drained the pool within minutes rather than reflecting the previously anticipated broad 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 underperformed the broader crypto market over the past 24 hours.
The price slid from $115 to $94 during the period, a decline of more than 18% on the daily chart.
As news of the contract issue spread, selling pressure on OKB intensified.
Four-second bug drained 99.68% of the rewards
On-chain data shows 32 addresses claimed around 623 million PYBOBO, effectively wiping out nearly all of the 625 million allocated for the event.
Remarkably, the sweep occurred in just four seconds, catching organizers and participants off guard.
Analysis indicates a multi-function mechanism in the OKX Boost claiming contract permitted unusually rapid claims, enabling certain addresses to receive far more PYBOBO than intended.
Blockchain analytics firm OKLink identified one wallet that claimed approximately 37.847 million tokens, worth about $18,600.
By the time the issue was discovered, 99.68% of the reward pool had already been drained.
The incident appears to stem from an unintended interaction in the contract that allowed distributions to exceed the planned limits.
OKX Wallet pauses claims during investigation
The team acknowledged the problem shortly after reports surfaced and confirmed that PYBOBO claims would be delayed until the contract issuer resolves the issue.
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 pause is intended to prevent further damage while the project undergoes review.
The team has pledged to share updates as the investigation progresses.
The incident has reverberated across the OKX ecosystem, with OKB experiencing significant selling pressure as a direct result.
OKB price outlook
OKX’s token breached the psychological $100 level and hit a daily low of $94.
The token fell from a daily high of $115, losing more than 18% in the last 24 hours.
Daily trading volume for OKB spiked about 100%, signaling elevated speculative activity.
With sellers dominating the current market environment, the token could face further downside before it stabilizes and finds a firmer footing.