Phishing Surge Post-MiCA Regulation Deadline in EU

• •Over 1,700 crypto companies in the EU must cease operations post-MiCA deadline.
• •Phishing attacks are exploiting legitimate withdrawal requests to deceive investors.
• •Supervisory bodies warn that urgency in withdrawal requests is a red flag.

Following the MiCA regulation deadline on July 1, 2026, crypto service providers in the EU must have authorization to operate. As a result, many unauthorized providers are instructing customers to withdraw their funds, leading to a spike in phishing attacks. Criminals are exploiting this situation by sending fraudulent messages that appear legitimate, urging users to move their holdings. Supervisory authorities, including the French AMF, have issued warnings about these scams, which often misuse official logos and names. Approximately 1,700 companies must cease operations, leaving many investors vulnerable to these scams. The AMF has emphasized that genuine withdrawal requests will not pressure users into immediate action. Victims are advised to verify the legitimacy of withdrawal requests carefully. The situation is evolving as more companies receive MiCA authorizations, creating a dynamic environment for potential fraud.