EU watchdogs warn of impersonation scams amid MiCA licensing shakeout
Summary
Fraudsters are exploiting the EU’s MiCA licensing deadline to scam crypto customers whose providers failed to secure authorization. Since the July 1 cutoff, European regulators have reported more impersonation attempts and fake recovery schemes. In France, scammers have posed as AMF officials and sent users to fake websites to transfer assets. ESMA also warned that criminals are misusing its name, logo, and forged documents, often targeting people looking for a licensed replacement provider. By late July, only 323 crypto firms had obtained EU licenses, while many more unlicensed firms were expected to wind down or move assets, creating a larger pool of vulnerable customers.
