French CEO loses €600,000 to fake crypto platform impersonating MiCA-licensed exchange
- —Losses exceeded €600,000 over a year, paid by the victim and his family
- —Fraudsters posed as managers of a MiCA-licensed crypto platform
- —Victim was promised 1.3% weekly returns via a 'trading robot'
- —Claims are being prepared against the platform and banks BRED and Revolut
Why it matters: The cloned-site scheme shows MiCA licensing alone does not shield users from social engineering fraud.
Source: Cryptoast