Crypto Scam Targets Shipping Firms in Strait of Hormuz Crisis

Shipping companies operating in the Strait of Hormuz are facing a new challenge: crypto extortion scams. These scammers pose as Iranian officials, exploiting the ongoing shipping crisis to demand transit fees paid in cryptocurrencies such as Bitcoin or Tether (USDT).

The scam typically involves fake messages sent to ship owners whose vessels are stuck west of the strait. The messages claim to represent Iranian security services and offer safe passage in exchange for payment. However, these communications are entirely fraudulent and do not come from Iranian authorities.

The scammers use a structured process designed to look official, requiring recipients to submit documents for review before assigning a fee in cryptocurrency. Once paid, the promised safe transit is not provided, leaving victims with significant financial losses.