A recent technical glitch in the OKB Boost reward contract has drained nearly the entire PYBOBO reward pool, leading to a significant drop in OKB prices and raising questions about the security of cryptocurrency exchanges. This incident has sparked concern among investors and users of the OKX platform.
Glitch Causes Draining of Reward Pool
- The malfunction allowed 32 wallets to claim 623 million PYBOBO tokens in just four seconds.
- The event nearly emptied the entire 625 million PYBOBO reward pool within moments.
- This bug coincided with OKB experiencing significant price drops.
The cryptocurrency sector faced another downturn on Friday, with Bitcoin plummeting 10% within 24 hours, trading at $81,865 at the time of publication. The total market capitalization of cryptocurrencies has fallen by 10%, now sitting at $2.81 trillion.
Among the tokens affected, OKB from the OKX exchange suffered the most, as the price drop coincided with a critical review following the unexpected contractual bug during the recent Boost reward campaign. The distribution of PYBOBO coins led to almost the entire pool being cleared out in four minutes—not due to overwhelming demand, as originally believed.
🚨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
OKB token has underperformed relative to the broader cryptocurrency market in the last 24 hours, dropping from $115 to $94, marking a decline of over 18%. Increased trading pressure has followed the news of the contractual malfunction.
Details of the 4-Second Bug
Blockchain statistics reveal that 32 addresses claimed a staggering 623 million PYBOBO tokens, effectively emptying nearly all of the 625 million allocated for the distribution. Astonishingly, the entire sweep took only four seconds, catching both the team and participants off guard.
Notably, a multifunction feature within the OKX Boost claims contract appears to have allowed unusual and rapid claims, enabling certain addresses to receive far more PYBOBO tokens than initially intended. OKLink identified one wallet that claimed 37.847 million tokens, valued at approximately $18,600.
The swift depletion of the reward pool—99.68% of the tokens vanished almost instantaneously—hints at an unintentional movement that propelled distributions wildly beyond their specified limits.
OKX Halts Claims Amid Investigation
The OKX team promptly acknowledged the issue following reports and confirmed the suspension of PYBOBO claims until the contract issuer resolves the underlying problems.
Claiming for PYBOBO rewards will be postponed.
We’ll provide updates here once the issue has been resolved.
— OKX Wallet (@wallet) November 21, 2025
This temporary pause aims to prevent further potential damage as the project undergoes review. The team has promised to release additional updates as the investigation unfolds. The incident has significantly affected the OKX ecosystem, with OKB showing overwhelming selling pressure in the aftermath.
Market Outlook for OKB
The OKB token hit a daily low of $94, having fallen below the psychological barrier of $100. It dropped from a daily high of $115, losing over 18% of its value in the past 24 hours.
Transaction volume for OKB surged by 100%, indicating a rise in speculative activity. The cryptocurrency is expected to continue experiencing volatility before finding a stable position, as sellers thrive in the current financial landscape.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
