A Greek maritime risk firm, MARISKS, has reported that scammers, posing as Iranian officials, are demanding cryptocurrency payments from shipping companies for transit through the Strait of Hormuz. According to Reuters, these fraudulent messages claim to offer safe passage by requiring Bitcoin or Tether’s USDT stablecoin payments.
The context is a tense situation in the Strait of Hormuz, which has been central to recent conflicts between Iran and the United States. The scammers assert that after document submission and eligibility assessment by Iranian Security Services, they can determine the required cryptocurrency fee for passage at an agreed time.
MARISKS suspects that one vessel targeted by Iranian boats over the weekend had fallen victim to this scam during a temporary reopening of the strait. Decrypthas sought further comment from the firm.
This news follows Iran’s recent announcement, weeks prior, about instituting Bitcoin tolls for passage through the Strait of Hormuz—a move intended to bypass sanctions by making fees untraceable and immune to confiscation. However, TRM Labs has noted no blockchain data supporting large-scale crypto usage in these transit fees.
Despite the lack of concrete evidence, the threat remains significant. Isabella Chase from TRM Labs emphasizes that Iran-linked groups have historically used cryptocurrencies to evade financial restrictions. She advises treating any associated wallet addresses as high-risk and stresses the importance of blockchain intelligence checks before payments.
OFAC regulations highlight that even unintentional payments to sanctioned entities carry legal risks, with no exceptions for crypto transactions. Shipping companies are urged to consult with sanctions experts and maritime security advisors before responding to payment demands.
Tanker traffic through Hormuz is still significantly reduced, at about 5% of pre-war levels since April 18 when Iran reimposed restrictions. Market predictions vary: Polymarket users estimate a 28% chance of normal shipping resumption soon, while Myriad users are more optimistic with a 64% probability.
Xue Yin Peh from Chainalysis warns that attempting to transact with what is believed to be a sanctioned regime poses clear risks. Whether payments reach Iran or not, the intent alone may attract regulatory scrutiny under OFAC and other sanctions laws. Even if scammed rather than paying Iranian authorities directly, companies could still face investigations.
Given the lack of public information on actual crypto toll administration by Iran, Peh advises adhering to standard anti-scam practices: verifying demands through official channels and consulting maritime security advisers while viewing urgent payment requests with caution.