- The bug allowed 32 wallets to claim 623 million PYBOBO in four seconds.
- The event drained nearly the entire 625 million reward pool almost instantly.
- The disruption coincided with weak OKB price performance.
The crypto sector endured another sell-off on Friday as Bitcoin fell 10% over the past 24 hours to $81,865 at time of writing.
Global crypto market capitalization stands at $2.81 trillion following the 10% decline over the last day.
Amid the broader bloodbath, OKX’s native token suffered particularly badly, as its weakness coincided with renewed scrutiny over an unexpected contract glitch in the platform’s new Boost reward campaign.
The planned PYBOBO distribution ended with almost all pools emptied within four minutes, and the result appears to be driven by a contract malfunction rather than overwhelming organic 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.
It slid from $115 to $94 at the time of writing, representing a drop of more than 18% on the daily price chart.
OKB faced growing selling pressure as reports of the contract malfunction spread.
Four-second glitch drains 99.68% of incentives
On-chain data shows 32 addresses claimed 623 million PYBOBO coins, consuming nearly all of the 625 million allocated for the distribution event.
Most strikingly, the entire sweep took only four seconds, catching both the team and participants off guard.
Multiple functions within the OKX Boost claim contract apparently permitted abnormal, rapid claims, allowing a handful of addresses to receive far more PYBOBO tokens than intended.
OKLink identified one wallet that claimed 37.847 million tokens, worth roughly $18,600.
What stands out is how quickly the pool evaporated: 99.68% of the rewards were gone by the time the issue was noticed.
The nature of the incident points to an unintended mechanism that drove distribution far beyond the set limits.
OKX Wallets halt claims amid investigation
The team acknowledged the issue shortly after reports surfaced and confirmed they suspended PYBOBO claims while they resolve the contract bug.
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 team conducts a review.
The team pledged to provide additional updates as the investigation progresses.
The incident sent ripples across the OKX ecosystem, with OKB experiencing unusually heavy selling pressure as a result.
OKB price outlook
OKX’s token hit a daily low of $94 after dropping below the psychological $100 mark.
The token fell from a daily high of $115, losing more than 18% of its value over the last 24 hours.
Daily trading volume for OKB surged by 100%, indicating heightened speculative activity.
Given current market conditions and the sell pressure tied to the distribution glitch, the digital asset could weaken further before recovering to a more stable position.