MiCA Migration Scammers Target EU Crypto Users Amid Regulatory Transition

European regulators have issued warnings to crypto users about scammers exploiting the transition to MiCA licensing. The scammers are posing as regulators and authorized exchanges, issuing fake migration notices that aim to steer users toward unverified platforms.

The warning comes amid a broader transition period following the full implementation of MiCA on July 1. As a result, more than 1,700 crypto platforms could no longer serve EU users without the required authorization.

Only 323 firms were authorized under MiCA at that time, leaving as many as 10 million users potentially needing to transfer their crypto assets. To avoid falling victim to these scams, regulators advise checking providers against official MiCA registers before making transfers.