Fraudsters posing as Iranian officials are targeting shipping companies operating near the Strait of Hormuz, demanding cryptocurrency payments in exchange for safe passage, according to a report.
Maritime risk firm Marisks warned that unknown groups have been contacting operators with structured messages, requesting fees in Bitcoin or USDT while claiming to offer clearance to cross the strategic waterway.
The scam has added a layer of financial risk for shipping firms already dealing with heightened tensions in the region. The Strait of Hormuz remains a critical chokepoint for global energy flows, previously handling around one-fifth of the world’s oil and liquefied natural gas exports.
According to Reuters, the fraudsters have managed to appear credible by mimicking official communication styles and procedures, increasing the likelihood of companies falling victim.
The development comes amid earlier reports suggesting Iran was considering imposing transit fees payable in cryptocurrency for vessels passing through the strait, adding to the confusion among operators.
Kaitlin Martin of Chainalysis warned that companies making such payments could face serious sanctions risks.
The conflict has also impacted Iran’s cryptocurrency sector. Data cited by Hashrate Index shows the country’s Bitcoin mining power has dropped sharply in recent months.
The situation highlights how geopolitical instability is creating opportunities for financial fraud, with shipping firms now facing both operational disruptions and cybersecurity threats in one of the world’s most sensitive maritime corridors.