Scammers impersonating financial regulators and licensed exchanges are targeting crypto holders who are still moving assets five weeks after the EU’s licensing deadline under the Markets in Crypto-Assets Regulation (MiCA). France’s AMF, the Dutch AFM, and ESMA have all warned about this pattern. Fraudsters contact customers of firms that failed to win authorization, present themselves as regulator or exchange staff, then direct victims to websites or accounts they control. ESMA’s register listed 322 authorized crypto-asset service providers as of August 4, and every unauthorized provider lost the right to serve EU clients on July 1. Chainalysis reported a 1,400% year-over-year growth in impersonation scams, with total crypto scam losses estimated at nearly $17 billion in 2025.
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