Fraudsters impersonating Iranian officials are demanding Bitcoin (CRYPTO: BTC) and Tether (CRYPTO: USDT) from shipping companies whose vessels are stranded in the Strait of Hormuz, Greek maritime risk management firm MARISKS warned Monday.

The Scam Messages

The fraudsters ask for vessel ownership documents, cargo manifests, and crew lists. After reviewing the paperwork, they send a payment demand—often hundreds of thousands to millions of dollars in Bitcoin or USDT, Reuters reported.

“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,” the fraudulent message reads. “Only then will your vessel be able to transit the strait unimpeded.”

MARISKS said these messages are scams and were not sent by Iranian authorities.

One Ship Paid And Got Shot At

At least one vessel tried to exit the strait Saturday after paying a fraudulent fee. Iranian boats fired shots at the ship, forcing it to turn around. 

Payment demands range from hundreds of thousands to millions of dollars in Bitcoin or USDT.

Hundreds of ships and about 20,000 seafarers remain stranded in the Gulf. The U.S. has blocked Iranian ports while Iran has opened and closed the Strait of Hormuz multiple times.

Roughly a fifth of the world’s oil and liquefied natural gas passed through the strait before war broke out.

Iran’s Real Toll System

The scams work because they copy a real policy. Since mid-March 2026, Iran requires laden oil tankers to pay transit fees—often $1 per barrel and up to $2 million for larger shipments—in Bitcoin, USDT, or Chinese yuan.

Hamid Hosseini, spokesperson for the Oil, Gas and Petrochemical Products Exporters’ Union, said crypto payments “can’t be traced or confiscated due to sanctions.”

Iran has built a crypto economy estimated at $7-$8 billion to facilitate trade and bypass restrictions.

Why Scammers Use Crypto

Crypto payments are fast and can’t be reversed. Once a shipping company sends Bitcoin or Tether, the money is gone. 

The scammers disappear with the funds, and there’s no way to recover the payment or track where it went.

The confusion between real Iranian policy and fake messages creates a dangerous situation. 

Shipping companies face delays that cost millions in demurrage fees, making them desperate to move their vessels.

Moreover, Bitcoin prices have responded to developments in the region. 

The Hormuz crisis shows how crypto functions as neutral money when traditional payment systems can’t be used.

Image: Shutterstock