A digital asset used for routing automated payouts to social media profiles saw terms of its market value collapse on Monday. The $PAID token imploded after X blocked the UsePaid service from its financial infrastructure, terminating a system that had caused the cryptocurrency to surge 500% over the weekend. X implemented the ban after several high-profile accounts reported the unsolicited fund transfers as spam.

UsePaid had utilized a mechanism to route creator fees from Solana meme coins into X Money accounts, claiming to have distributed nearly $1.5 million to users. Recipients described the transfers, some of which reached tens of thousands of dollars, as a "financial DDoS," while former X product head Nikita Bier called the project a "creative hack." One recipient, effective accelerationism founder Gill, used more than $100,000 of the windfall to launch the Kardashev Research think tank.