EU Regulators Warn of Surge in Crypto Scams Exploiting MiCA License Withdrawals

European Union financial regulators have issued a warning to cryptocurrency investors about a surge in scams exploiting the bloc's Markets in Crypto-Assets (MiCA) licensing regime. According to the Financial Times, fraudsters are targeting users of crypto firms that either ended services or withdrew their applications under MiCA by posing as financial authorities or legitimate licensed companies.

The scammers have been circulating fake notices and phishing websites claiming that users must transfer their assets to an approved account or complete urgent KYC verification. These communications often mimic the branding and language of official EU regulators or licensed crypto exchanges, making them difficult to distinguish from legitimate requests.

The timing of these scams is notable as the EU halted operations of crypto firms that failed to obtain licenses after the MiCA transition grace period ended on July 1. Regulators are urging investors to verify whether any guidance they receive is official by checking directly with national financial authorities or the official websites of licensed firms.