MiCA regulations spark rise in scams targeting 10 million users
The EU’s crypto regulations have created a new wave of scams, with fraudsters impersonating regulators and licensed exchanges.
The regulations, which came into force on July 1, required over 1,700 unlicensed crypto platforms to stop serving EU customers.
Only 323 companies held a valid authorization, leaving a gap that scammers are exploiting to steal funds from users forced to migrate their accounts.