Crypto scammers demand BTC/USDT for 'safe passage' through Hormuz

Greek maritime risk firm Marisks has issued an alert saying fraudulent messages promising safe passage through the Strait of Hormuz have been sent to shipping companies whose vessels are stranded west of the waterway, with demands for Bitcoin or USDT as transit fees.

According to the Marisks advisory, unknown actors posing as Iranian authorities contacted shipowners and asked for documentation to be submitted for an eligibility assessment by so-called "Iranian Security Services," after which a cryptocurrency fee — specified as BTC or USDT — would be set for clearance at a pre-agreed time. Marisks emphasised that these communications did not originate from official Iranian channels.

The episode has immediate implications for shipping, marine insurance and energy markets. The Strait of Hormuz is a vital chokepoint through which roughly one-fifth of the world’s oil and LNG flowed before recent disruptions; hundreds of vessels and some 20,000 seafarers remain affected by the blockade and restrictions. Such fraud attempts can increase war-risk and kidnap/ ransom-related insurance premiums and push up spot freight rates.

Contextual factors heighten commercial vulnerability: the US blockade of Iranian ports and Tehran's intermittent controls over the strait have left transit arrangements fluid and contentious. Marisks noted an incident on April 18 when vessels attempting to transit were reportedly fired upon; the firm believes at least one ship hit by gunfire may have been targeted after responding to fraudulent communications, though Reuters said it could not independently verify those specific claims.

Market observers expect the direct impact on cryptocurrency markets to be limited, but warn of second-order effects on shipping costs, insurance pricing and risk premia in oil markets. The use of crypto in extortion-like scenarios is likely to prompt closer monitoring from blockchain analytics firms and financial institutions, and could accelerate compliance scrutiny by maritime operators. Shipowners are advised to verify any clearance requests through official diplomatic or naval channels and to avoid ad-hoc crypto payments to unverified parties.