- A malfunction allowed 32 wallets to claim 623 million PYBOBO in just four seconds.
- The incident almost instantly drained the entire 625 million reward pool.
- This glitch coincided with a sell-off in OKB’s price.
The cryptocurrency sector experienced another sharp pullback on Friday, with Bitcoin falling about 10% over the past 24 hours to trade near $81,865 at the time of writing.
Global crypto market capitalization sits around $2.81 trillion after a roughly 10% decline in the last day.
Amid the broader market downturn, OKX’s native token was hit particularly hard after the exchange came under scrutiny for an unexpected contract malfunction during its recent Boost rewards campaign.
A planned distribution of PYBOBO tokens was effectively exhausted in a matter of minutes, and the rapid depletion appears to have been driven by an unintended contract behavior rather than normal 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
The OKX token underperformed the broader crypto market in the past 24 hours, sliding from about $115 to $94—a decline of more than 18% on the daily chart. Selling pressure intensified as reports of the contract issue spread.
Four-second glitch wipes out 99.68% of incentives
On-chain data shows 32 addresses claimed 623 million PYBOBO tokens, effectively draining nearly all of the 625 million tokens allocated for the distribution event.
Amazingly, the entire sweep took only four seconds, surprising both the project team and participants.
Investigations indicate the OKX Boost contract permitted unusually fast and large claims, allowing several addresses to extract far more tokens than intended.
Blockchain analytics firm OKLink flagged an address that claimed 37.847 million PYBOBO, roughly valued at $18,600 at the time of the claims.
By the time the issue was detected, 99.68% of the reward pool had already been emptied.
The pattern of activity suggests an unintentional contract behavior pushed distributions well beyond the designed limits.
OKX Wallet pauses claims amid investigations
The team acknowledged the issue shortly after reports surfaced and confirmed that PYBOBO claims would be paused while they investigate the contract behavior with the token issuer.
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 halt is intended to prevent further potential losses while the project undergoes a review. The team said it will share additional updates as the investigation progresses.
The incident reverberated across the OKX ecosystem, contributing to intense selling pressure on the OKB token.
OKB price outlook
OKB fell to a daily low near $94 after losing the key $100 level.
The token slid from a daily high of roughly $115, losing over 18% of its value in 24 hours. Daily trading volume for OKB doubled, indicating heightened speculative activity.
Given the current market conditions and elevated selling pressure, OKB may face further downside before finding a stable support level and resuming recovery.