Iran Demands Bitcoin For Ships Passing Hormuz During Ceasefire - Slashdot
slashdot.org
An anonymous reader quotes a report from the Financial Times: Iran will demand that shipping companies pay tolls in cryptocurrency for laden oil tankers passing through the Strait of Hormuz (source paywalled; alternative source), as it seeks to retain control over passage through the key waterway du...

He said that the tariff is $1 per barrel of oil, adding that empty tankers can pass freely. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” Hosseini added.

  • HertzDentalBar@lemmy.blahaj.zoneEnglish
    1·
    3 hours ago

    To an extent it is but with enough resources and knowhow anything is traceable.

    It’s not always about direct traceability it’s the little bread crumbs that get left by everything. Nothing is absolute and everything we think is secure leaks like a mofo it’s just a matter of translating the data.

    • shortwavesurfer@lemmy.zipEnglish
      1·
      2 hours ago

      True, a place like Iran could keep it untraceable, although they would have to take some extra care in order to do so. But for your average person that’s not being looked at by a nation state, it is much easier to remain untraceable.