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  • OKB price dips 20% as OKB Boost contract glitch drains entire reward pool

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

    OKB price dips 20% as OKB Boost contract glitch drains an entire reward pool

    • The malfunction allowed 32 wallets to claim 623M PYBOBO within 4 seconds.
    • The event emptied nearly all the 625M reward pool almost instantly.
    • The glitch coincides with OKB’s price underperformance.

    The virtual currency sector recorded another sell-off on Friday as Bitcoin lost 10% in the past 24 hours to press time’s $81,865.

    The global crypto market cap stands at $2.81 trillion after a 10% decline over the last day.

    Amidst the broader bloodbath, OKX’s native token suffered the most as the downside coincided with OKX facing new scrutiny after an unexpected contract glitch in its recent Boost reward campaign.

    A planned distribution of PYBOBO coins ended up with nearly all the pool drained within four minutes, and it wasn’t the massive demand as earlier thought.

    OKX’s token underperformed the overall cryptocurrency market in the past 24 hours.

    It dipped from $115 to $94 during this writing, and over 18% dip on its daily price chart.

    OKB experienced intensified selling pressure as the news of contract malfunctioning spread.

    A 4-second glitch empties 99.68% of incentives

    On-chain stats show that 32 addresses claimed 623 million PYBOBO coins, wiping nearly all the 625 million allocated for the distribution event.

    The most striking thing is that the entire sweep took only four seconds, catching the team and participants unaware.

    Notably, a multifunction within the OKX Boost claim contract seems to have permitted abnormal, rapid claims, allowing a few addresses to receive far more PYBOBO tokens than initially planned.

    OKLink identified a particular wallet that claimed 37.847 million tokens, worth roughly $18,600.

    Nevertheless, what’s striking is how fast the pool evaporated, with 99.68% of rewards gone by the time the ream noticed the glitch.

    The event’s nature indicates an unintended move that propelled distributions well beyond their specified limits.

    OKX Wallets halts claiming amid investigations

    The team acknowledged the issue immediately after the reports emerged and confirmed delaying PYBOBO claiming until after resolving the contract issuer.

    The temporary pause aims to prevent further potential damage as the project conducts a review.

    The team has promised to publish more updates as they investigate the matter.

    The incident sent ripples across the OKX ecosystem. OKB testified to that with its overwhelming selling pressure.

    OKB price outlook

    OKX’s token  hit a daily low of $94 after losing the $100 psychological mark.

    It has dropped from a daily high of $115, losing over 18% of its value in the past 24 hours.

    OKB has seen its daily trading volume surge 100%, signaling increased speculative activity.

    The digital coin would likely slump further before regaining a dependable footing as sellers thrive in the current financial landscape.

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  • Shiba Inu BONE Emerges as the Most Used Smart Contract

    Shiba Inu BONE Emerges as the Most Used Smart Contract

    Shiba Inu (SHIB) is unquestionably highly well-liked among whales, particularly whales of Ethereum (ETH). Few crypto assets have the capacity to establish themselves as household names. This alternative currency has perhaps made the most noise since 2021 and has risen to the top of the cryptocurrency field.

    The market capitalization of Shiba Inu once matched that of Dogecoin (DOGE). However, recently, cryptocurrency has fallen farther behind DOGE.

    According to statistics from CoinMarketCap, SHIB, which has a market worth of $5.5 billion, is ranked 15th among all digital currencies. At the time of publication, it had spiked 1.1% in value over the previous day and was trading at $0.00001007.

    It is not just SHIB, the entire SHIB ecosystem has been gaining whale attention. As per the data from WhaleStats, the SHIB governance token has emerged as one of the most used smart contracts among Ethereum whales.

    As per the data, BONE has surfaced as the most used smart contract among the top 500 ETH whales. At the time of writing, BONE is trading at $0.9843 with a 5.23% spike in price in the last 24 hours. The exact reason for the price hike is unknown as there haven’t been any major announcements regarding BONE.

    ETH whales love to hold Shiba Inu

    Data from WhaleStats also reveals that SHIB is the top-held token among the top 2,000 ETH whales. $124,490,426 worth of SHIB is currently being held by these whales. SHIB is followed by MKR, LOCUS, BIT, and UNI.

    In a comparison of the holdings of the top 100 ETH whales, SHIB ranks fifth with $1,215,530 worth of SHIB. SHIB has been having one of its best years, not in terms of price, but in development. However, the team is and has been working on several projects. One of the recent ones that were out is the Shiba Eternity game, which was a hit.



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