- This malfunction allowed 32 wallets to claim 623 million PYBOBO within 4 seconds.
- This event emptied nearly all of the 625 million reward pool almost instantly.
- This glitch occurred at the same time as OKB’s price performance deteriorated.
The crypto sector recorded further losses on Friday as Bitcoin fell 10% in the past 24 hours to $81,865 at the time of writing.
The global cryptocurrency market capitalization fell 10% from the previous day to $2.81 trillion.
Amid the widespread debacle, OKX’s native token was the hardest hit, with the downturn coinciding with an unexpected contractual glitch in a recent boost rewards campaign that caused OKX to face new scrutiny.
The planned distribution of PYBOBO coins ultimately resulted in almost the entire pool being emptied within 4 minutes, and the demand was not as large as initially thought.
🚨Update: OKX’s PYBOBO reward pool has been depleted in seconds.
Users are reporting that a large number of claims were processed almost instantly, indicating an unusual demand and liquidity frenzy. pic.twitter.com/mER1GrLeRJ
— Crypto Times (@CryptoTimes_io) November 21, 2025
OKX token has underperformed the overall crypto market in the past 24 hours.
During the writing of this article, it fell from $115 to $94, a drop of over 18% on the daily price chart.
OKB came under increasing selling pressure as news of the contract default spread.
99.68% of incentives lost after a 4 second glitch
According to on-chain statistics, 32 addresses claimed 623 million PYBOBO coins, and almost all of the 625 million coins allocated to the distribution event disappeared.
Most impressively, the entire sweep took only four seconds and was imperceptible to the team and participants.
In particular, the versatility within the OKX Boost billing contract appears to allow for unusually fast billing, allowing some addresses to receive far more PYBOBO tokens than originally planned.
OKLink identified a specific wallet that claimed 37,847,000 tokens worth approximately $18,600.
Nevertheless, what was surprising was how quickly the pool evaporated, with 99.68% of the rewards gone by the time the team noticed the glitch.
The nature of this event indicates an unintended move to drive distribution far beyond the specified limits.
OKX Wallet suspends charges pending investigation
The team acknowledged the issue shortly after the report came out and confirmed it would be postponing PYBOBO’s claims until it resolved the contract issuer.
Receipt of PYBOBO rewards will be postponed.
Once the issue is resolved, we will provide an update here.
— OKX Wallet (@wallet) November 21, 2025
The suspension is intended to prevent further potential harm as the project conducts a review.
The team promised to provide further updates as they investigate the matter.
This incident sent ripples throughout the OKX ecosystem. OKB proved this with its overwhelming sales pressure.
OKB price outlook
The OKX token hit a daily low of $94 after losing the psychological mark of $100.
It has fallen from an intraday high of $115 and has lost more than 18% of its value in the past 24 hours.
OKB’s daily trading volume has increased by 100%, indicating an increase in speculative activity.
As sellers thrive in the current financial environment, digital coins are likely to falter further before regaining reliable footing.
