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The Bitcoin Act
TheBitcoinAct@nostrcheck.me
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We cover Bitcoin & legal news in our newsletter 📰, and share threads, polls & the best Bitcoin memes on Nostr 😎. Save time, stay informed, laugh a little.
🧵 Legal thread of the week: Fake Ledger App Steals $424K 👀 1/7 Famous musician G. Love just lost his entire retirement fund to a scam hiding in plain sight on Apple’s Mac App Store. Garrett Dutton, frontman of G. Love & Special Sauce, downloaded what looked like the official Ledger Live app. He entered his 24-word seed phrase. In seconds, 5.9 BTC vanished. 2/7 It happened on April 11, 2026. G. Love was setting up a new computer. He searched the App Store for Ledger, trusted the first result, and restored his wallet. The moment he confirmed his seed phrase, the attacker drained every satoshi of Bitcoin. He posted on X: “All my BTC gone in an instant.” 3/7 Here’s the scary part: this was a professionally disguised fake Ledger app sitting directly on Apple’s Mac App Store. Apple’s review process is supposed to catch this. It didn’t. Ledger has publicly warned for years, never download their wallet from any app store. Always go to ledger. com. 4/7 Ledger’s CTO put it bluntly: “Ledger will never ask for your 24 words. If any app does, assume it’s wrong.” Your seed phrase is the master key to everything. Once it leaves your hardware wallet and hits a malicious app, the funds are unrecoverable. 5/7 ZachXBT followed the trail. The stolen 5.9 BTC moved through nine quick transactions into KuCoin deposit addresses and disappeared. Professional laundering. This wasn’t amateur hour. The same fake app has already drained over $9.5 million in crypto from multiple victims in just days. 6/7 FBI data shows crypto fraud hit a record $11.36 billion in 2025, 21% higher than the year before, with average losses over $62,000. Even celebrities and long-time holders are falling for polished App Store fakes. Past scams on Microsoft’s store stole $600K. Apple’s platform was next. 7/7 Legally this is brutal. Self-custody means no bank reversal, no insurance, and almost zero chance of recovery once laundered. Apple may face questions about its App Store vetting, but victims rarely win. 🏛️ In today’s world, knowing #Bitcoin law isn’t optional, it’s essential for staying free and safe. 📩 Subscribe to my weekly newsletter and get the sharpest breakdowns delivered straight to you:
⚡️ Issue #37 of The Bitcoin Act newsletter is live! 🧡 Dive into the latest global moves reshaping #Bitcoin regulation and adoption. 👉 For subscribers, don’t forget to check and claim your free sats! 👉 Full issue here: thebitcoinact.xyz
⚡️ Issue #36 of The Bitcoin Act newsletter is live! 👀 Dive into sharp opinion & analysis, today's key numbers, and the biggest #Bitcoin law & market moves shaking things up. 👉 For subscribers, don’t forget to check and claim your free sats! 👉 Full issue here: thebitcoinact.xyz
🧵 Legal thread of the week: Arkansas Shields Home Bitcoin Miners 👇 1/7 🛡️ Arkansas just introduced SR7, a resolution authorizing a #bill that protects home #Bitcoin miners by amending the state’s Data Centers Act of 2023 and renaming it the Digital Asset Mining Act. 2/7 📜 Filed on April 3, 2026, SR7 limits local governments’ power to restrict or ban home digital asset mining and small-scale operations, giving miners clear statewide rules instead of patchwork local interference. 3/7 🏠 The legislation prohibits local authorities from banning home mining outright or forcing special permits on these operations, so everyday Arkansans can run their rigs without extra bureaucratic hurdles. 4/7 📋 Home miners only need to follow existing local ordinances, utility rules, state and federal laws, and pay all applicable taxes and fees, no more, no less, creating predictable compliance standards. 5/7 🔊 To keep things neighbor-friendly, the bill requires noise-reduction techniques like liquid cooling or fully enclosing equipment, ensuring small-scale mining meets practical environmental expectations. 6/7 ⚡ Digital asset mining businesses cannot strain utility generation or transmission, and the Arkansas Public Service Commission can set fair, non-discriminatory electricity rates for them. 7/7 🌟 SR7 draws a smart line between state protection for individual miners and responsible rules, offering a practical model for #Bitcoin law nationwide. What does this mean for your home setup? Drop your thoughts below and follow for next week’s legal thread. 👇 🏛️ In today’s world, knowing #Bitcoin law isn’t optional, it’s essential for staying free and safe. 📩 Subscribe to my weekly newsletter and get the sharpest breakdowns delivered straight to you:
⚡️ Issue #35 of The Bitcoin Act newsletter is live! 🧡 Dive into the latest global moves reshaping #Bitcoin regulation and adoption. 👉 For subscribers, don’t forget to check and claim your free sats! 👉 Full issue here: thebitcoinact.xyz
⚡️ Issue #34 of The Bitcoin Act newsletter is live! 👀 Dive into sharp opinion & analysis, today's key numbers, and the biggest #Bitcoin law & market moves shaking things up. 👉 For subscribers, don’t forget to check and claim your free sats! 👉 Full issue here: thebitcoinact.xyz