OKB Price Falls as Boost Contract Glitch Wipes Out Reward Pool
TL;DR
OKB fell from $115 to $94 (over 18%) amid a generalized market sell-off.
A glitch in OKX’s Boost campaign contract allowed 99.68% of PYBOBO tokens to be drained in just four seconds.
OKX has halted claims, and the OKB price drop contract glitch is driving speculative volume up by 100%.
Another sharp liquidation was registered in the crypto market on Friday, with the pioneer cryptocurrency falling 10% to $81,865. The global sector’s capitalization was reduced to $2.81 trillion after the red movements of the last day. Amidst this general massacre, OKX’s native token, OKB, was the most affected.
OKB’s dramatic fall coincided with a new investigation into OKX following an unexpected glitch in the smart contract of its recent Boost rewards campaign. A programmed distribution of PYBOBO tokens ended with almost the entire pool drained in under four minutes, which was initially attributed to massive demand, but soon revealed to be a system error.
In the broader cryptocurrency market, over the last 24 hours, the OKB token performed poorly. It plummeted from a daily high of $115 to $94, marking a drop of over 18% on its price chart. Selling pressure intensified as soon as news of the contract malfunction spread.
The Four-Second Hole That Drained 99.68% of Incentives
On-chain statistics reveal the severity of the problem: 32 addresses managed to claim 623 million PYBOBO tokens, emptying almost all of the 625 million allocated for the distribution event. The most striking thing is that the entire process took only four seconds, catching both the team and legitimate participants off guard.
A malfunction within the OKX Boost claim contract appears to have allowed abnormally rapid claims, which permitted a few addresses to receive many more PYBOBO tokens than planned.
OKLink identified a particular wallet that claimed 37.847 million tokens, worth approximately $18,600. By the time the team noticed the glitch, 99.68% of the rewards had already disappeared.
The OKX Wallet team acknowledged the issue immediately and confirmed the postponement of PYBOBO claims until the contract issuer’s problem is resolved. This temporary pause aims to prevent any potential additional damage while a review is conducted.
The OKB incident caused a 100% surge in OKB’s daily trading volume, a clear sign of speculative activity. The digital token will likely fall further before regaining reliable footing, as sellers are taking advantage of the current financial landscape.
Filed under: News - @ November 21, 2025 4:28 pm