Fraudsters are targeting global shipping firms with fake Strait of Hormuz transit fees, demanding payment in Bitcoin and Tether as vessels remain stranded amid Gulf tensions.
Iran is demanding tankers pay a $1-per-barrel toll in Bitcoin for safe passage through the Strait of Hormuz during the U.S.-Iran ceasefire, according to a Financial Times report. The move lets Tehran bypass sanctions using Bitcoin’s neutral, censorship-resistant settlement.
Bitcoin price fell below $68,000 as geopolitical tensions between the U.S. and Iran, driven by President Donald Trump’s warnings, rattle global markets.