Strait Of Hormuz Crisis Sparks Cryptocurrency Shipping Scam

MoneyPersonal FinanceStrait Of Hormuz Crisis Sparks Cryptocurrency Shipping ScamBySteve Weisman,Contributor.Forbes contributors publish independent expert analyses and insights. Steve Weisman writes about white-collar crime.Follow AuthorApr 24, 2026, 12:05pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Strait of Hormuz map with oil trade routs connecting the Persian Gulf and Gulf of Oman.gettyScammers are eager to take advantage of whatever is happening in the news to use it as a hook for scams. Scammers posing as charities or governmental agencies such as FEMA following natural disasters such as we saw during the aftermath of the California wildfires is an example of this type of activity. So, it shouldn’t be surprising as much of the world focuses on the Straif of Hormuz and the thousands of ships stranded in the Persian Gulf that scammers view the war in Iran as just another opportunity for scams.Approximately 20% of the world’s oil and liquified natural gas passes through the Strait of Hormuz during normal times, however these are not normal times and since the start of the war with Iran, United States forces have blockaded Iranian ports while Iran, in turn, first blockaded the Strait of Hormuz, then temporarily lifted the blockade before later reinstating it. Presently traffic in the Strait of Hormuz is largely non-existent with only occasional Iran-linked maritime traffic safely passing through the Strait. Meanwhile, hundreds of ships are stranded in the Persian Gulf.In late March, the Iranian parliament passed a law to impose transit fees on commercial maritime vessels going through the Strait of Hormuz. This legislation largely codified a toll system that Iran had already implemented informally since early March.According to Mohammadreza Rezaei Kouchi, the chair of the Iranian parliament’s Civil Affairs Committee, “Parliament is pursuing a plan to formally codify Iran’s sovereignty,...