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Scammers Offer Passage to Ships Stranded Near Strait of Hormuz in Exchange for Crypto: Report

Scammers Offer Passage to Ships Stranded Near Strait of Hormuz in Exchange for Crypto: Report

Fraudsters exploit US-Iran tensions to demand crypto payments.

Written by Rahul Dhingra, Edited by David Delima | Updated: 22 April 2026 15:12 IST

Scammers Offer Passage to Ships Stranded Near Strait of Hormuz in Exchange for Crypto: Report

Fraud attempts target vessels navigating one of the world’s busiest oil routes

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Highlights

Fake authorities demand Bitcoin and USDT for passage
Strait remains a critical route for global energy supply
Payments may expose firms to sanctions violations

Scammers posing as Iranian officials have sent messages to shipping companies whose ships are stranded in the Strait of Hormuz, asking for cryptocurrency payments for safe passage. Maritime risk company Marisks has now issued a warning that unknown groups are posing as authorities, contacting shipping companies and requesting transit fees in Bitcoin or USDT in exchange for clearance to cross the strait, as per a Reuters report. This has caused an additional problem of financial fraud for operators on top of an already tense corridor.

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Reuters reports that scammers managed to pose as these authorities, as they had structured messages and review procedures. This has given these bad actors credibility to run this operation. The Strait of Hormuz holds a critical choke point for global energy flows, and it used to handle one-fifth of the world's oil and liquefied natural gas exports before tensions rose in the region.

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Earlier this month, some reports said that Iran was considering charging ships passing through the Strait of Hormuz a tariff payable in Bitcoin, with empty tankers allowed free passage, while others could be charged around $1 per barrel of oil.

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Kaitlin Martin, a senior intelligence analyst at Chainalysis, has warned that shipping firms that shipping companies that use cryptocurrency to pay Iran for possible transit fees could face serious sanctions, as per a report by Cointelegraph.

This ongoing conflict has also shown repercussions on Iran's Bitcoin hashrate, as it has plummeted by 77 percent over the past quarter, as per a report by Hashrate Index. The report noted that Iran's Bitcoin mining power has lost roughly 7 exahashes per second (EH/s) quarter over quarter and now sits at about 2 EH/s.

Overall, this situation underlines how geopolitical tensions have created new opportunities for financial fraud, especially in high-risk zones like the Strait of Hormuz. As bad actors are exploiting operational disruptions, such incidents have forced shipping firms to deal with financial fraud along with complex regulatory risks.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Cryptocurrency, Bitcoin, Strait of Hormuz

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More