Fraud in the strait?: How crypto scamsters are targeting ships stuck in Hormuz

As numerous ships remain stranded near the Strait of Hormuz, con artists are seizing the moment to exploit the situation. Fraudsters posing as Iranian officials are reportedly soliciting shipping companies to pay transit fees in cryptocurrency, specifically Bitcoin or Tether, to facilitate the passage of their vessels through the blocked waters. Greek maritime risk firm MARISKS has issued warnings regarding these deceptive communications, clarifying that they do not originate from legitimate Iranian authorities. "These messages are a scam," the firm stated in a recent alert directed at shipowners. The fraudulent messages request that companies submit their vessel documentation for review by Iranian security services, after which a fee would be determined. The scam claims that only after this process will vessels be allowed to transit the strait at a previously agreed time. The warning comes amid an ongoing blockade of the Strait of Hormuz, a critical route through which about 20% of the world’s oil and liquefied natural gas typically flows. MARISKS has suggested that at least one targeted ship may have fallen victim to this scam, acting on the fraudulent instructions it received. In a related incident on April 18, when Iran briefly reopened the strait for traffic under inspection protocols, two vessels were reportedly fired upon by Iranian patrol boats, forcing them to retreat. MARISKS indicated that one of these vessels might have been misled by the scam before attempting to navigate the strait. The scam targeting vessels in Hormuz is part of a broader trend of cryptocurrency-related crime. Data from DefiLlama reveals that hacking incidents in April 2026 alone have resulted in losses exceeding $606 million. Meanwhile, ship movements in the area remain erratic; at least 20 vessels managed to pass through the strait over the recent weekend, according to LSEG data, but traffic has since slowed following new attacks. In one alarming case, the Iranian Revolutionary Guard fired upon a tanker, and a container ship was struck by a projectile. Reports confirm that both targeted vessels were flying the Indian flag, prompting the Indian government to express serious concerns to Tehran. The situation has deteriorated further after a brief diplomatic opening failed to yield lasting results. Although Iran had temporarily reopened the strait following a US-brokered ceasefire in Lebanon, it was closed again after former President Trump declined to lift a US naval blockade on Iranian ports. In recent developments, the US Navy fired upon an Iranian cargo ship in the Gulf of Oman, with US Marines subsequently seizing the vessel. Trump commented that the ship attempted to breach the blockade. Iran had previously proposed a system where vessels would pay fees for secure passage. Ongoing discussions between the US and Iran, facilitated by Pakistan, have yet to yield promising outcomes, with Trump stating that extending the ceasefire, set to expire on Wednesday, is "highly unlikely."