Fraudulent actors are demanding cryptocurrency payments from shipping companies whose vessels remain stranded west of the Strait of Hormuz, promising safe passage through the waterway in exchange for bitcoin or USDT.
Greek maritime risk management firm MARISKS issued the warning on Monday, stating that unknown parties impersonating Iranian authorities had targeted shipping firms with the scheme.
How the scam works
In one message flagged by MARISKS, the sender told shipping companies they would need to submit documentation for review by Iranian security services before a transit fee would be determined in cryptocurrency.
The message stated that payment would allow the vessel to cross the strait:
“Unimpeded at the pre-agreed time.”
MARI SKS said at least one vessel that tried to exit the strait on April 18 and was hit by gunfire from Iranian boats may have been a victim of the fraud.
The broader shipping crisis
Hundreds of ships and roughly 20,000 seafarers remain stranded in the Gulf amid competing restrictions.
The U.S. has maintained a blockade of Iranian ports that began about a week ago, while Iran had lifted and then reimposed its own closure of the strait.
The passage handled roughly one-fifth of global oil and liquefied natural gas shipments before the current conflict disrupted traffic.
Iran’s real toll proposal
The fraudulent scheme follows Iran’s own proposal to impose tolls on vessels for safe transit through the strait amid ceasefire talks.
The Financial Times reported on April 8 that Tehran is seeking up to $2 million per tanker in fees, with payments allowed in cryptocurrency including bitcoin.
Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the FT the toll is set at about $1 per barrel of oil.
Meanwhile, President Trump said the U.S. will not lift its blockade on Iranian ports until a deal is reached, with a temporary ceasefire set to expire on April 23.
