Thee 29-year-old, who has suffered a high- profile gambling addiction, tweeted the picture of a bag full of £20 notes.
The accompanying message read: "Keep tweeting me about being in debt haha love it £cash £skint £lol £lendmeafiver."
Later his account, @MichaelChopra10, which had almost 15,000 followers, disappeared.
An Ipswich Town spokesman said Chopra had made his own decision to close the account, adding that the club encouraged Twitter use but "sometimes banter can be a little over the top".
"In an era when fans don't get close to players it's a good communication tool, but players should think before they tweet," he added.
Chopra revealed the extent of his addiction in 2011, speaking publicly about how he had lost as much as £2million, spending up to £20,000 a day.
It later emerged that his club had loaned him £250,000 to pay off debts.
The player spent three weeks in the Sporting Chance Clinic last season in an attempt to beat the addiction.