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EU watchdogs warn of impersonation scams after MiCA license deadline
Only 323 crypto firms had obtained MiCA licenses as of late July, leaving many customers potentially looking for alternatives amid a July 1 wind down.
European crypto watchdogs are warning of impersonation scams that have surged around the EU’s Markets in Crypto Assets (MiCA) authorization deadline, after criminals reportedly moved in as some providers lost their licenses.
Cointelegraph reports that fraudsters have used fake websites and falsified documents to target people seeking licensed crypto services, including by impersonating EU financial regulators and crypto businesses.
France’s Autorité des Marchés Financiers (AMF) said it has seen cases where scammers posed as AMF representatives and directed users to transfer assets via fraudulent sites, while the European Securities and Markets Authority (ESMA) said it is aware of scammers misusing its identity and logo.
According to Cointelegraph, an ESMA list updated at the end of July showed only 323 crypto companies had obtained licenses, and data provider VASPnet previously estimated that more than 1,700 unlicensed companies would need to stop operations.