Fraudsters Begin Collecting Bitcoin for Passage Through the Strait of Hormuz, 2026/04/21 13:52:11

Fraudsters posing as official Iranian entities have begun soliciting payments in Bitcoin and USDT from shipping companies for safe passage through the Strait of Hormuz, as reported by Maritime Risk Services (MARISKS), a firm specializing in maritime risk management.

According to experts from this Greek company, the perpetrators are demanding cryptocurrency payments from shipowners for “customs clearance” and secure transit through the Strait of Hormuz along the Iranian coastline.

“After submitting the necessary documents and assessing your financial capability by Iranian security services, we will be able to determine the amount payable in cryptocurrency (BTC or USDT). Only after this will your vessel be allowed to pass through the strait at the agreed time,” the statement quoted by MARISKS indicates.

At least one vessel, which came under fire on April 18 while attempting to exit the strait, may have fallen victim to such a scheme, Maritime Risk Services suggested.

The fraudsters are exploiting the shipping restrictions in the Strait of Hormuz, which have arisen due to military tensions between the U.S. and Iran. The U.S. maintains a blockade on Iranian ports, while the Islamic Republic intermittently lifts and reinstates bans on the passage of tankers and other vessels. Prior to the escalation of the conflict, approximately one-fifth of global oil and liquefied natural gas supplies transited this route, according to Reuters.

Previously, Hamid Hosseini, a representative of the Iranian Oil and Gas Exporters Union, informed the Financial Times that the country’s authorities plan to charge $1 for each barrel of oil transported through the Strait of Hormuz during a two-week ceasefire reached with the U.S. The Iranian authorities intended to conduct these transactions in Bitcoin.