Crypto scam messages promise safe passage through the Strait of Hormuz

Crypto

Crypto scam messages promise safe passage through the Strait of Hormuz

Crypto scam messages offering safe passage through the Strait of Hormuz in exchange for digital currencies started circulating on Tuesday, April 21.

Specifically, shipowners started receiving messages from unknown senders posing as Iranian authorities, who demanded cryptocurrency payments, partciuarly Bitcoin (BTC) or Tether (USDT), in exchange for passage clearance.

The swindling attempt, first reported by following a warning issued by a Greek maritime risk firm MARISKS, allegedly culminated with an attack on a tanker 20 nautical miles northeast of Oman.

A new dimension to the Hormuz blockade

As per MARISKS reports, the messages in question asked companies to submit documents for review by Iranian security services. Only then would the “vessel be able to transit the strait unimpeded at the pre-agreed time,” one attempt read.

While certainly unique, the Hormuz crypto scam is part of a broader wave of digital crime. Indeed, crypto losses from hacking incidents alone have crossed $600 million over the past 30 days, according to data.

As Tehran has floated the idea of charging tolls for safe transit through the vital chokepoint at Hormuz, the scam was likely an attempt to capitalize on the desperation. For now, hundreds of vessels and thousands of seafarers remain stranded in the Gulf.

As for Bitcoin, the assets remain virtually unaffected by the situation, having experienced a modest daily uptick of 0.5% and trading at $75,800 at press time. The latest data suggests that bulls will remain in control as long as Bitcoin holds above the $74,000 support zone.

A decisive move above $77,500 and $78,000, however, could put $80,000 back on the menu. Conversely, a drop below $73,000 might see the asset retest the $70,000 and $72,000 range.