MiCA's cleanup is creating a new scam wave across the European Union

60-second summary

MiCA's cleanup is creating a new scam wave across the European Union, with fraudsters impersonating regulators and licensed crypto exchanges to steal funds from users forced to migrate their accounts after the EU's MiCA deadline, which is expected to be met by thousands of users, potentially resulting in significant losses for unsuspecting investors and damage to the industry's reputation.