Educational 
February 20, 2025 
6 min. 
Solana has rapidly become one of the most popular blockchain networks due to its scalability and low transaction fees. However, as the ecosystem grows, so do the risks associated with crypto scams. Bad actors continuously exploit unsuspecting users through phishing attacks, rug pulls, and other sophisticated tactics. Understanding how to distinguish legitimate projects from scams is crucial for anyone navigating the Solana network.
Common Scams on Solana
Rug pulls and phishing scams are more rampant on Solana than anywhere else. Phishing has evolved far beyond its primitive display – most developers create projects that cloak a malicious intent only to siphon money from their users. There are scams that virtually do not need any effort—just clicking a link can end up compromising your entire wallet. A Solana user lost some money for clicking on an X (formerly Twitter) post, which let the scammer withdraw a number of tokens without needing to ask for permission.
Users that are moving from Ethereum or other EVM networks will find Solana’s security model to be unfamiliar and sometimes overly complex. Permissions for executing transactions are managed differently on Solana than on EVM blockchains. So, security measures that are reliable on Ethereum, may not work on Solana.
Understanding Authorization vs. Signature on Solana
A key defense against scams is understanding the difference between authorization and signature within the Solana ecosystem:
- Authorization: This applies to tokens and NFTs, allowing specific addresses to interact with them. Unauthorized transfers can lead to asset loss.
- Signature: Used for sending transactions and signing messages, proving account ownership. A transaction may include authorization, but authorization always requires a signature for execution.
By recognizing these distinctions, users can better safeguard their assets and avoid falling prey to malicious contracts.
How Solana Differs from the EVM
Many users assume that all blockchain protocols function similarly. However, Solana operates differently from the EVM in ways that impact security:
- No Prior Authorization for Transactions: Unlike EVM networks, where phishing contracts often require users to approve token access before executing transfers, Solana transactions don’t need pre-approval. This means attackers can use different strategies to exploit users.
- Risk of Instant Token Transfers: On EVM networks, the “approve” function can be a gateway for scammers. On Solana, attackers leverage other methods, such as fraudulent transaction signatures, to gain control of funds.
By understanding these differences, users can adopt security measures that align with Solana’s architecture.
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How to Stay Safe on Solana
1. Use Wallet Transaction Simulation
Solana wallets often include a transaction simulation feature, which allows users to preview transactions before signing them. This can help identify fraudulent transactions before any assets are moved. Always review simulated transactions carefully to avoid unknowingly authorizing malicious activity.
2. Be Cautious with Multiple Token Transfers
Solana enables multiple token transfers within a single transaction, which can be convenient but also risky. Scammers exploit this by hiding unauthorized transfers within a bulk transaction. Always verify transaction details to ensure that only intended assets are being transferred.
3. Watch Out for Fraudulent Transaction Signatures
Solana’s Durable Nonce feature allows transactions to be signed and executed at a later time. While useful, scammers have found ways to exploit this by modifying contract details after obtaining a signature. To protect yourself:
- Avoid signing transactions that seem unclear or unnecessary.
- Use simulation tools to check transaction risks.
- Consider using a hardware wallet for added security, as it requires manual confirmation for each transaction.
Final Thoughts
The Solana ecosystem offers exciting opportunities, but users must remain vigilant against scams. By understanding the platform’s unique security model, leveraging transaction simulation tools, and exercising caution with transaction approvals, you can better protect your assets. Stay informed, double-check all interactions, and prioritize security to safely explore the benefits of Solana.
