OKB price plummets 20% as OKB Boost contract glitch drains entire reward pool.

The cryptocurrency market faced significant turbulence as the price of OKB plunged nearly 20%, triggered by a contractual glitch in OKX’s reward distribution. The incident saw a substantial portion of the reward pool drained within mere seconds, raising concerns about operational integrity and market stability.

Glitch Drains Reward Pool in Seconds

• A malfunction allowed 32 wallets to claim 623 million PYBOBO tokens in just four seconds.
• The event nearly emptied the entire reward pool of 625 million tokens.
• This issue coincides with a downturn in OKB’s market performance.

On Friday, the cryptocurrency sector experienced a sharp decline, with Bitcoin shedding 10% over the past 24 hours, falling to $81,865. The global market capitalization for cryptocurrencies now stands at $2.81 trillion following a drop of 10% in a day.

Amid this wider market sell-off, the native token of OKX, OKB, faced the brunt of the downward pressure, as the decrease coincided with increased scrutiny of the platform due to a bug during its recent Boost reward campaign.

The planned distribution of PYBOBO tokens led to the rapid depletion of the reward pool in just four minutes, contrary to initial assumptions about high demand. Reports suggested that this was not merely a rush of consumer interest but rather a systemic issue.

🚨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

Throughout the last 24 hours, OKB has performed poorly compared to the overall cryptocurrency market, dropping from $115 to $94, reflecting an 18% decline in its daily price chart. Increased selling pressure followed news of the contractual dysfunction.

Immediate Action Taken by OKX Team

On-chain statistics revealed that 32 addresses managed to claim 623 million PYBOBO tokens, nearly depleting the entire allocation of 625 million set for the event. The most alarming aspect was that this sweep occurred in just four seconds, catching both the team and participants off guard.

It appears that a multifunction feature in the OKX Boost claim contract allowed for abnormal and rapid token claims, enabling certain addresses to receive significantly more PYBOBO tokens than anticipated. One wallet alone claimed 37.847 million tokens, valued at approximately $18,600.

However, the speed at which the rewards vanished—99.68% gone almost instantaneously—indicates an unintentional movement that propelled distributions far beyond their designated limits.

Temporary Suspension of Claims

The OKX team acknowledged the issue promptly after reports surfaced and confirmed that claims for PYBOBO rewards would be postponed until the contract issuer resolves the matter.

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 halt aims to prevent further potential damages while the project is under review. The team has committed to providing further updates as the investigation unfolds. The incident has reverberated through the OKX ecosystem, evidenced by overwhelming selling pressure on OKB.

Outlook for OKB Prices

The OKX token reached a daily low of $94, having lost the psychological support level of $100.

It dropped from a daily high of $115, losing over 18% of its value within the last 24 hours. OKB experienced a surge in daily trading volume by 100%, indicating increased speculative activity. The digital currency is likely to face further decline before establishing a stable position as sellers capitalize on the current financial environment.