As the Strait of Hormuz remains effectively closed to commercial shipping amidst ongoing regional conflict, a new threat has emerged: sophisticated cryptocurrency scams targeting desperate shipping companies. Hundreds of vessels are currently stalled near the critical waterway, creating a fertile ground for fraudsters.
Fake Iranian Officials Demand Crypto for Passage
According to an alert issued by Greek maritime risk firm MARISKS, unknown actors are impersonating Iranian officials and contacting shipping companies. These scammers demand payments in cryptocurrencies like Bitcoin or Tether, promising unimpeded passage through the blocked Strait of Hormuz in return. The fraudulent communications instruct companies to submit vessel documents for review, after which a 'transit fee' is determined.
MARISKS has explicitly stated that these messages are not from legitimate Iranian authorities and constitute a scam. The firm believes at least one ship may have already fallen victim to these fraudulent instructions.
High Stakes in a Volatile Region
The Strait of Hormuz is a vital global chokepoint, through which roughly a fifth of the world's oil and liquefied natural gas flowed before the current conflict. Its closure has created immense pressure on global supply chains and shipping operations.
The scam activity coincides with heightened tensions and uncertain ship movements in the region. On April 18, when Iran briefly reopened the strait for inspections, at least two vessels, including a tanker, reportedly came under fire from Iranian patrol boats and were forced to retreat. One of these vessels is believed to have been targeted by the crypto scam prior to its attempt to transit.
Broader Trend of Crypto-Linked Crime
This Hormuz scam is part of a larger surge in cryptocurrency-related crime. Data from DefiLlama indicates that losses from hacking incidents in April 2026 alone have already exceeded $606 million, highlighting the pervasive nature of digital financial fraud.
The regional situation remains precarious. While approximately 20 ships passed through the strait over a recent weekend, traffic quickly slowed again following fresh attacks. Incidents included Iran’s Revolutionary Guard firing at a tanker and a container ship being hit by a projectile. India confirmed both targeted ships were flying its flag and conveyed serious concerns to Tehran.
Diplomatic Efforts Falter
A brief diplomatic breakthrough, which saw Iran reopen the strait following a US-brokered ceasefire in Lebanon, quickly deteriorated. The strait was shut again after former US President Donald Trump reportedly refused to lift a US naval blockade on Iranian ports. Subsequent events included the US Navy firing at an Iranian cargo ship in the Gulf of Oman, with US Marines seizing the vessel, which Trump claimed was attempting to break the blockade.
Talks between the US and Iran, facilitated by Pakistan, are ongoing, but prospects for a resolution remain low. The ceasefire, which was set to conclude soon, was deemed 'highly unlikely' to be extended by Trump, further exacerbating the instability that scamsters are now exploiting.