EU Watchdogs Warn of Rising Crypto Scams After MiCA Deadline

TLDR

• EU watchdogs now report rising scams after the MiCA licensing deadline passed.

• Fraudsters impersonate regulators and licensed crypto firms to steal funds.

• More than 1,700 unlicensed crypto companies may now leave the European market.

• ESMA warns criminals are misusing its logo, identity, and forged documents.

• Users moving crypto funds face higher risks from fake websites and messages.

EU financial watchdogs have warned that fraudsters are exploiting disruption after the MiCA licensing deadline. Criminals now impersonate regulators and licensed crypto companies while customers transfer funds between platforms. The shift has created new risks across Europe’s rapidly changing digital asset market.

MiCA Deadline Disrupts Crypto Services

The EU required crypto companies to secure bloc-wide authorization by July 1. Firms without approval must stop regulated services or help customers move their assets elsewhere. That process has exposed users to fake websites, false emails, and fraudulent transfer instructions.

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