Catenaa, Wednesday, April 22, 2026-Scammers posing as Iranian authorities are demanding Bitcoin and USDT payments from shipping companies seeking safe passage through the Strait of Hormuz.
Maritime risk firm MARISKS warned that unknown actors have been sending messages to ship operators, claiming vessels must pay transit fees in cryptocurrency before being allowed to cross the waterway.
The messages say companies must submit documents for review by Iranian security services before being told how much to pay in Bitcoin or USDT.
MARISKS said it believes at least one vessel fired on by Iranian boats over the weekend may have already paid the fraudulent fee.
The Strait of Hormuz remains one of the world’s most important shipping routes. Traffic through the passage has dropped sharply since Iran reimposed restrictions on April 18.
The latest scam emerged after reports that Iranian officials had discussed using Bitcoin payments for transit fees in the strait.
Iran has reportedly considered crypto-based payments because they are harder to trace and less vulnerable to sanctions enforcement.
However, blockchain analysis firms have said there is still no public on-chain evidence showing that Iran has been widely using cryptocurrency toll systems.
Despite that uncertainty, the fraud risk for shipping firms has grown.
Experts said the fake payment demands are exploiting confusion around sanctions, regional conflict and uncertainty over shipping rules.
The Strait of Hormuz is a critical route for oil and gas shipments. Any disruption can affect energy prices, shipping costs and global trade flows.
Security analysts warned that companies making crypto payments face major legal and financial risks.
Even if a payment is made unknowingly to a scammer, regulators may still examine whether the company intended to transfer money to a sanctioned Iranian entity.
Experts said paying in cryptocurrency does not shield firms from sanctions exposure.
Companies could still face legal scrutiny under rules enforced by the US Treasury’s Office of Foreign Assets Control, as well as European and UK sanctions laws.
The use of Bitcoin and USDT in these demands also shows how scammers are increasingly using digital assets in high-risk geopolitical situations.
Crypto payments can move quickly across borders, making it harder for victims to recover stolen funds.
TRM Labs said any wallet address linked to Hormuz transit payments should be treated as high risk until verified through blockchain intelligence checks.
Isabella Chase, head of policy for Europe, the Middle East and Africa at TRM Labs, said shipping firms should consult sanctions experts before sending any payment.
Xue Yin Peh of Chainalysis said even if a company ends up paying a scammer rather than Iranian authorities, the payment could still attract regulatory attention.
Peh said authorities may look at the company’s intent and whether it believed it was paying a sanctioned government.
Experts advised companies to verify any transit demands through official channels and avoid responding to urgent payment requests without legal review.
The Strait of Hormuz handles a large share of the world’s oil exports and remains a major flashpoint between Iran and the United States.
Shipping traffic has remained far below normal levels following recent tensions and military incidents in the region. Prediction market traders remain divided on how quickly normal shipping volumes will return.
As fears around Hormuz continue, scammers appear to be exploiting uncertainty by targeting shipping companies with fake crypto payment requests.
The episode highlights how digital assets are increasingly intersecting with sanctions, shipping security and geopolitical conflict.
