What to Know
32 wallets claimed 623M PYBOBO in 4 seconds due to a faulty OKX Boost contract.
OKX has paused claims and must address fairness, security, and user trust.
OKX continues expanding with upgrades, DEX access, and product changes.
According to on-chain data from OKLink, 32 addresses managed to claim 623 million PYBOBO tokens in just 4 seconds, draining virtually the entire reward pool of 625 million PYBOBO which is roughly 99.68%. The largest single claim came from the address 2zAnVa…VvCd2h, which grabbed 37.847 million PYBOBO worth about US $18,600 at current value.
The campaign was part of OKX’s “X Launch” initiative under its Boost product, promoting the project Capybobo. The total reward allocation for PYBOBO was announced as 625 million tokens. After the incident, the OKX Wallet team said that claiming PYBOBO rewards would be delayed and that they would give an update once the problem was fixed.
What Happened
The Boost campaign was meant to distribute tokens to eligible participants, users who completed required tasks or met criteria during a set period. But when the claim window opened, something went wrong. In just a few seconds, dozens of wallets claimed almost the entire reward pool. Because the contract allowed so many quick claims, nearly everyone else was locked out.
One user on X commented, “Another day, another smart contract that wasn’t quite smart enough for the wolves.” This reflects how common these kinds of glitches or exploits have become in crypto campaigns.
The fact that 32 wallets claimed almost all of the 625 million token reward pool in seconds suggests the claim process was broken or poorly protected. It makes people who were expecting a fair chance to claim worried about fairness.
This could hurt trust in the Capybobo community, and they might think the campaign was unfair or that the team didn’t do a good job of protecting the reward distribution. This also hurts OKX’s reputation because many people will expect proper controls and oversight from the campaign’s organizer.
What OKX and PYBOBO Should Do
OKX and the project team should check whether the claim contract had exploitable code, or if it simply misconfigured limits or timing. They need to inform users clearly about what went wrong, what steps they are taking, and whether the misclaimed tokens will be reclaimed or compensated.
They may consider conducting another round of claims or allocating resources to those who were left out in order to restore balance and trust. Moving forward, they should introduce safeguards such as claim caps per wallet, rate limits, whitelisting trusted addresses, or delayed claim windows to avoid repeating this mistake.
OKX Updates
Despite this OKX is making progress. OKX announced it will delist USDC-margined perpetual futures for major pairs such as BTC/USDC and ETH/USDC as of December 11. The move is described as part of a plan to improve market liquidity and user experience. Users holding USDC-margined futures are advised to close their positions or switch to USDⓈ-margined futures ahead of the delisting.
OKX will also support the upcoming network upgrade and hard fork for Ethereum and associated networks (including Base, Arbitrum, Starknet, zkSync Era and more) by suspending deposits and withdrawals on December 3 until the networks stabilise. OKX also launched in-app DEX trading for users in the US and around the world. This lets users access tokens on chains like Solana, Base, and X Layer directly through their app.
Final Thoughts
The PYBOBO claim glitch is another example of how even popular platforms can have big problems when smart contracts aren’t fully tested or protected. OKX is still adding new features, upgrades, and product changes to its ecosystem, but this incident shows that users need better security, more openness, and fairer systems.
Token launches and reward campaigns are becoming more common, so both projects and platforms need to make sure they are making systems that keep users safe from bots, exploits, and code that isn’t set up correctly.
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