In a development that surprises absolutely no one, crypto scammers are now targeting the thousands of ships stranded near the Strait of Hormuz. At least one vessel that faced Iranian gunfire may have been tricked into believing it had paid Iran for safe passage using digital currency, proving that even in a warzone, there's always someone trying to run a grift.
The first warning came from the Greek maritime risk management company MARISKS on April 20. The company alerted shipowners that scammers posing as Iranian authorities were sending messages demanding 'transit fee' payments in bitcoin or tether. This is particularly confusing because Iranian authorities have, in fact, been legitimately demanding cryptocurrency payments from oil tankers to pass through this vital shipping channel, which normally allows Persian Gulf countries to provide one-fifth of the world's oil and liquefied natural gas supply.
MARISKS identified one ship as having potentially fallen victim after it attempted to pass through the strait on April 18. The incident supposedly occurred during a brief window when Iran claimed it was allowing inspections, but the ship turned back after Iranian military forces fired upon it. With about 2,000 ships and 20,000 mariners stranded, it seems the perfect target-rich environment for fraud.
That ship may have company. On April 22, the Liberia-flagged cargo ship Epaminondas, owned by the Greek company Technomar shipping and operated by MSC, was fired upon after reportedly receiving permission to pass. Authorities are now checking whether that safe-passage message 'may have been fraudulent.'
The whole mess started earlier this year when shipping traffic effectively halted after US and Israeli militaries began launching airstrikes on February 28, targeting Iran's leaders, military forces, nuclear facilities, and other infrastructure. Iran retaliated with missiles and drones, striking US bases, Israel, and the energy infrastructure and airports of various Gulf countries.
Major shipping companies have become understandably reluctant to risk their assets. Mariners have reported 22 confirmed attacks and 13 reports of suspicious activity, according to the United Kingdom Maritime Trade Operations. Attacks have ranged from missiles and drones to good old-fashioned gunfire from small boats likely operated by the Iranian Revolutionary Guard Corps.
To further complicate this geopolitical clown car, the US Navy began its own blockade on April 13, focusing on ships exiting or entering Iranian ports. US forces have fired upon and seized a cargo ship, boarded an oil tanker, and turned back more than two dozen other ships. Iran seems to be retaliating by firing upon and potentially seizing more commercial ships. With this level of chaos and confusion, it's a wonder the crypto scammers didn't show up sooner.