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On July 1, 2025, a new regulation regulating markets in crypto assets (MiCA) came into force in the European Union. The purpose of this law was to create uniform rules for all digital asset transactions, increase transparency, and ensure the security of investor funds. However, in addition to the expected changes, the first weeks of MiCA's implementation have revealed an unexpected side effect: a sharp increase in the activity of fraudulent groups. These groups quickly adapted to the new conditions and began exploiting them. The Financial Times, citing data from European and national regulators, reports that EU countries are seeing a real surge in fraudulent schemes, with criminals exploiting MiCA to defraud cryptocurrency owners. 

This fraudulent scheme, while reminiscent of classic phishing, has taken on a new twist due to the current relevance of MiCA. Criminals are contacting users of crypto exchanges and exchangers whose services either haven't yet obtained a license under the new regulations or haven't planned to do so at all. Posing as representatives of regulators or the crypto platforms themselves, the scammers convince victims that their current service no longer complies with MiCA requirements and will soon be shut down. As a "rescue measure," they suggest transferring funds to another, supposedly verified and licensed platform. In reality, this "platform" turns out to be a fake—either a fake website or a one-day page created solely for the purpose of stealing money.

The French regulator (AMF) has already recorded several similar cases. Experts note that any period following the introduction of new legislation is associated with increased risks, but in the case of MiCA, these risks are higher than usual. Criminals are actively exploiting the information vacuum and the lack of awareness among some investors about the precise licensing procedures.

The European Securities and Markets Authority (ESMA) also confirmed cases of fraudulent activity using counterfeit agency names and logos. Fraudsters created false documents imitating official ESMA documents to lend a veneer of legitimacy to their actions. ESMA warned regulators and market participants to critically assess any communications purporting to originate from their name.

The Dutch regulator (AFM) joined the warnings, emphasizing that investors seeking alternative licensed providers after the closure of their traditional services are at increased risk. Fraudsters are targeting them, creating fake resources and swindling their money under various pretexts.

Tom Keating of the Royal United Services Institute (RUSI) expressed additional concern, noting that individuals facing uncertainty due to the closure of European crypto services are becoming easy prey for criminals. Using fake websites, counterfeit interfaces, and psychological pressure, fraudsters coerce victims into voluntarily transferring their funds to accounts they control.

While precise statistics on the amounts stolen are not yet available, the systematic nature of the incidents is prompting regulators to step up awareness-raising efforts. The AMF and ESMA have published recommendations on their websites for verifying the authenticity of licenses and distinguishing official messages from fraudulent ones. They also urge citizens, if in doubt, to contact the regulator directly using known contacts rather than clicking links in suspicious messages.