Crypto-scammers are offering cargo ships in the Strait of Hormuz safety for Bitcoin, and Iran’s already fired on at least one

Fake messages asking for cryptocurrency to ensure safe passage through the Strait of Hormuz have been sent to multiple ships and shipping companies. The Greek maritime risk management ‌firm MARISKS issued the warning, which was first reported on by Reuters, saying that unknown scammers, claiming to represent the Iranian authorities, had sent various messages demanding transit fees in Bitcoin, Tether and other cryptocurrencies in exchange for “clearance.”

Hundreds of ​vessels are currently stranded west of the Strait, which Iran has blockaded in response to the US blockading Iranian ports. In normal times around a fifth of the world’s oil and natural gas passes through the shipping channel.

The scam has clearly been inspired by the fact that Tehran has suggested instituting tolls on ships to ensure safe transit (the Iranian authorities have made no comment on the messages). It trialled the plan earlier this month, per the Guardian, requiring tankers to provide their cargo list, destination and ownership before paying a toll of around $1 per barrel of oil: to put that in context, the average oil tanker will be transporting two million barrels. Then the kicker: Iran accepted payment in either Chinese yuan or cryptocurrency.

On April 18 ⁠the strait was temporarily opened subject to Iranian checks, but at least two ships that tried to pass through were fired upon by Iranian warships and reversed course. MARISKS said ​at least one ​of these vessels, ⁠which was hit by gunfire, was a victim of the fraud, adding that “these specific messages are a scam.”

MARISKS also gave an example of the messages being received by ships:

“After providing the documents and assessing your eligibility by the Iranian Security Services, we will be able to determine the fee to be ⁠paid in ​cryptocurrency (BTC or USDT). Only then will your ​vessel be able to transit the strait unimpeded at the pre-agreed time.”

(Image credit: Roy Buri, Pixabay)

That ship may not be alone in falling for a crypto scam while seeking safe passage. On April 22 the cargo ship Epaminondas, owned by the Greek company Technomar, was fired upon after apparently receiving a message promising safe passage. Ekathimerini reports the authorities are investigating whether the message in question “may have been fraudulent.”.

The Iranians have fired upon ships in other incidents, while since April 12 the US Navy has also been sticking its oar in with a blockade, all while President Donald Trump claims it has “total control” over the Strait, adding the Navy will “shoot and kill” Iranian mine-laying boats.

Crypto-scammers being their scummy selves is the last thing this seemingly intractable situation needs, but here we are. It already feels quaint to look back just a few years to early crypto scams and NFT game rug pulls, now that we’ve reached full Neal Stephenson novel territory.

About