Unknown groups are demanding cryptocurrency payments from shipping companies stuck near the Strait of Hormuz, offering “clearance” for safe passage in exchange for bitcoin or USDT, according to maritime risk management firm MARISKS. The firm said fraudulent messages, sent to shipping operators and posing as Iranian authorities, are circulating as traffic in the vital waterway remains largely frozen.
MARISKS warned that at least one vessel struck by gunfire from Iranian boats on April 18 may have been misled by such a scam message. In one example reviewed by the firm, ships were told to submit documents for review by Iranian security services, after which a cryptocurrency “fee” would be set for unimpeded passage.
Extortion attempts target stranded shipping operators
The extortion attempts are unfolding as roughly 20,000 seafarers and hundreds of vessels remain trapped in the Gulf, where U.S. and Iranian restrictions continue to block normal routes. The Strait of Hormuz previously carried around 20 percent of global oil and liquefied natural gas flows before the latest conflict disrupted transit.
Shipping movements have slowed to a near halt. Traffic data from April 20 showed only three vessels crossing the waterway over a 12‑hour period. The International Energy Agency has called the disruption “the largest supply disruption in the history of the global oil market”.
Gulf shipping at standstill amid U.S.–Iran standoff
Separately from the fraudulent messages, Iran has advanced an official framework for charging tolls on ships using the contested strait. Under Tehran’s “Strait of Hormuz Management Plan,” authorities reportedly plan to levy around $2 million per tanker, roughly $1 per barrel of oil, with payments allowed in digital assets including bitcoin.
MARISKS emphasized that this state-level system is distinct from the criminal demands. Even so, the formal use of digital assets for sovereign revenue in a high‑tension zone, alongside parallel extortion schemes, highlights how cryptocurrencies are becoming more deeply embedded in geopolitical disputes and sanctions workarounds. Estimates show illicit transactions involving digital assets reached a record $158 billion in 2025, underscoring the scale of activity regulators are attempting to track.
Iran moves to formalize digital tolls on tanker traffic
On the diplomatic front, U.S. President Donald Trump has said the blockade on Iranian ports will remain until Washington and Tehran reach a broader agreement. A temporary ceasefire between the two sides is due to expire on April 23, and a second round of talks in Islamabad remains in doubt.
Iranian officials insist they will not negotiate under threat. Parliamentary speaker Mohammad Bagher Ghalibaf has warned that Iran is prepared to unveil “new cards on the battlefield,” signaling a willingness to escalate if pressure continues.
Political deadlock extends market uncertainty
The stalemate is feeding sharp moves across energy and digital asset markets. Brent crude, which spiked above $120 per barrel when the strait was first closed, has remained highly sensitive to news out of the Gulf and recently traded around $95.28 per barrel.
Digital assets are showing similar headline-driven swings. Bitcoin has fluctuated between $75,000 and $76,500 as reports of rising tensions and the seizure of an Iranian‑flagged vessel hit the tape.
Oil and crypto prices react to every headline
The dual track of official and criminal use of cryptocurrencies in the Strait of Hormuz crisis is raising the profile of digital assets as tools in conflict finance and sanctions evasion. As more state and non‑state actors look to these channels to move value outside traditional banking systems, government bodies are likely to accelerate plans for stricter oversight of global crypto transactions.
For traders, the convergence of maritime risk, geopolitical brinkmanship, and evolving crypto regulation points to a prolonged period of elevated volatility, where security incidents or policy statements can rapidly reprice both energy and digital asset markets.
Growing regulatory pressure on digital assets
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