Scammers impersonating EU regulators and exchanges target crypto users relocating assets due to MiCA compliance deadline, exploiting transition confusion.
Regulation & Gov ·
Fraudsters are impersonating EU financial regulators and licensed exchanges to intercept crypto holders transferring assets ahead of the EU's Markets in Crypto-Assets Regulation compliance deadline. The scams exploit the operational confusion during MiCA's transition period, when users are actively moving funds between platforms.
Regulatory bodies including ESMA and AMF have issued warnings that they do not directly contact consumers requesting fund transfers. Both agencies have advised users to verify any claimed regulator or exchange by checking official registers of authorized providers before proceeding with asset movements.
Impersonation fraud targeting crypto users has surged by 1,400% year-over-year, resulting in substantial financial losses. However, details remain unclear on the scope of assets affected, whether the 1,400% figure reflects case volume or monetary losses, and how many victims have been compromised to date.