Crypto scam lures ships into Strait of Hormuz, falsely promising safe passage

In a troubling development, cryptocurrency scammers have begun targeting the numerous vessels stranded near the Strait of Hormuz. Reports indicate that at least one ship, which encountered gunfire from Iranian forces, may have been deceived into thinking it had secured safe passage by paying a fee in crypto. The warning about this fraudulent activity was first issued by MARISKS, a Greek maritime risk management firm, on April 20. They informed shipowners that scammers, impersonating Iranian officials, were sending messages to shipping companies soliciting 'transit fees' in cryptocurrencies like bitcoin or tether. This scam is particularly concerning given Iran's historical claims over the Strait of Hormuz—a critical maritime route through which nearly one-fifth of the world’s oil and liquefied natural gas is transported. Iranian authorities have been known to request payments in cryptocurrency from oil tankers wishing to navigate the strait, mandating that vessels adhere to a specific route close to Iran’s coastline for inspections. MARISKS has identified at least one vessel that may have fallen victim to this scam. This incident reportedly occurred on April 18, when the ship attempted to traverse the strait during a period when Iran claimed it was permitting inspections. However, the vessel had to retreat after Iranian military forces fired upon it. Currently, approximately 2,000 ships and 20,000 crew members remain stranded in the vicinity of the strait, raising concerns that other vessels may also be misled by similar scams. In a separate incident on April 22, the Liberia-flagged cargo ship Epaminondas, owned by Technomar Shipping and operated by MSC, was fired upon after allegedly receiving clearance to pass through the strait. Authorities are now investigating whether the message granting safe passage was indeed a hoax.