Since the implementation of the MiCA regulations on July 1, scammers in the EU have begun impersonating regulators and cryptocurrency services, luring victims to fake accounts and websites. This information was reported by Financial Times, citing regulatory bodies.
Stéphane Pontaizo, the Executive Director of Market Intermediaries Supervision at France's Financial Markets Authority (AMF), noted that the initial phase of the new law is providing perpetrators with more opportunities than usual.
The AMF has recorded instances where unknown individuals posed as employees of the regulator or cryptocurrency companies, convincing customers of unlicensed services to transfer their assets to supposedly legitimate platforms.
The European Securities and Markets Authority (ESMA) has reported fraudulent activities involving the agency's name and logo, including counterfeit documents.
The Dutch Financial Markets Authority has also issued a warning that criminals could deceive investors and consumers looking for alternative licensed providers.
“Individuals who encounter doubts and issues stemming from the closure of their European crypto service will be more susceptible to traps set by criminals who create fake websites and attempt to induce them to transfer their funds,” said Tom Keating, founder and director of the Center for Financial and Security Studies at the Royal United Services Institute in the UK.
It is worth noting that in July, Bruna Sego, head of the Anti-Money Laundering Office, warned about risks following the end of the MiCA transition period. She expressed concern that the migration of users could overwhelm cryptocurrency services in the EU.