EU watchdogs warn of impersonation scams amid MiCA licensing shakeout
Criminals are reportedly using fake websites and falsified documents to target customers searching for licensed crypto providers.
Fraudsters are impersonating financial regulators and crypto businesses to target customers of crypto service providers that have failed to secure European Union licenses, according to officials cited by the Financial Times.
Several of the bloc’s watchdogs have reportedly seen an increase in scams since the July 1 deadline that required firms to obtain authorization under the Markets in Crypto-Assets (MiCA) Regulation. Companies that failed to secure approval must wind down or transfer their EU operations, forcing customers to move their assets.
Stéphane Pontoizeau, an official at France’s Autorité des Marchés Financiers (AMF), said the regulator encountered cases in which fraudsters impersonated AMF representatives, directing users to transfer assets to them through fake websites.