According to CoinMeta, EU regulators have warned that the chaos surrounding MiCA (regulations for the crypto asset market) has provided opportunities for scammers to impersonate regulatory authorities and crypto exchanges in order to exploit users affected by the MiCA licensing deadline. Scammers targeted customers of crypto platforms that failed to obtain authorization before the end of the transition period. Some victims were contacted by individuals posing as regulators, who instructed them to transfer their assets to so-called compliant platforms that were actually fraudulent websites. St, executive director of France's Financial Markets Authority, stated that the regulatory changes have created "more opportunities for scammers than ever before."