According to CoinMeta, the MiCA reforms in the EU have made it easier for crypto scammers to target users. European financial regulators have warned that criminals are taking advantage of this market transformation to steal funds, with scammers impersonating official regulatory agencies or licensed exchanges to trick users into sending their assets to fake websites. Regulators stated that hundreds of companies have been forced to close, and criminals are exploiting the chaos brought about by the EU's new crypto regulations.