According to ME News, following the end of the transition period for the EU’s Markets in Crypto-Assets Regulation (MiCA) on July 1 (UTC+8), impersonation scams targeting crypto users have increased. Scammers impersonate representatives from the European Securities and Markets Authority (ESMA), France’s Autorité des Marchés Financiers (AMF), or exchange staff, misleading users into transferring assets to fraudulent websites or wallets by claiming platforms lack licenses or that assets require urgent migration. Data shows that only 323 crypto companies have obtained licenses so far; according to VASPnet estimates, over 1,700 unlicensed entities may be required to cease operations. (Source: BlockBeats)
Scammers exploit EU MiCA regulations to impersonate authorities and steal user assets
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Summary
Since July 1, MiCA (EU Markets in Crypto-Assets Regulation) has triggered a surge in crypto scams, with fraudsters impersonating ESMA, AMF, or exchange staff. Scammers falsely claim platforms are unlicensed under MiCA, directing users to fake websites or wallets. Only 323 firms have obtained licenses, while 1,700 others may be forced to shut down. Liquidity and crypto markets remain under pressure as users face escalating fraud risks.
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