X Suspends Bitcoin Accounts Over Alleged $250K Revenue

X Suspends Bitcoin Accounts Over Alleged $250K Revenue Scheme

Last Updated:
Grok Flags Cryptic Post Claiming Links to Bank of Japan
Google News

Get our latest news first. Add us as your Preferred Source on Google and tap "Star" to prioritize our updates.

X suspended several Bitcoin-focused accounts after former product chief Nikita Bier alleged that one operator used them to earn more than $250,000 through the platform’s Creator Revenue Sharing program.

Bier said the accounts were linked to stolen posts and coordinated activity, but provided no independent evidence showing that all of them were controlled by the same operator.

Accounts Face Scrutiny

The dispute emerged Aug. 18 after FinanceLancelot accused Vivek Sen’s @Vivek4real_ account of reposting content from other creators without permission. The account was among several Bitcoin-focused profiles later suspended by X.

Related: Maya Protocol Hack Drains 20 BTC in $1.7M Exploit

Bier alleged that one person controlled more than 10 accounts and generated revenue across them over two years. He said he referred the case to law enforcement.

X Reworks Creator Payments

X stopped accepting new applications for its Creator Revenue Sharing program on Aug. 7 and plans to end it after Sept. 7. Existing participants can continue earning until then, with three final payouts scheduled during the wind-down.

Starting Sept. 8, eligible creators can apply for X’s replacement program, Original Content Rewards. X says it will reward original ideas, reporting, expertise, creativity and commentary.

The change marks a broader shift in X’s creator strategy, with the platform moving away from revenue sharing and putting more emphasis on original content.

Related: SEC’s New Crypto Rules Could Change Bitcoin’s Next Move in India: Here’s Why

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.