European regulators are warning crypto users about a rise in impersonation scams as the EU’s Markets in Crypto-Assets (MiCA) framework moves into effect. Multiple outlets report that fraudsters are using fake websites, impersonating regulators, and presenting falsified documents to appear credible to people looking for crypto providers that may be licensed under MiCA. The scams are reportedly aimed at customers who are trying to identify legitimate exchanges or service providers, particularly during the transition period when some firms may not have secured MiCA authorisation.
Authorities caution that thousands of crypto businesses that do not obtain the required approvals are expected to leave the EU market under the new rules. During this shakeout, regulators say users may be at increased risk of being contacted through misleading communications that claim official oversight or licensing status. Regulators urge investors to verify information carefully, including checking that communications and firms are genuinely authorised, rather than relying on claims made by unsolicited messages or fraudulent online materials.
