- Solana NFT sales volume has surged recently, exceeding $5 billion in all-time volume due to Solana’s cheap fees and fast speeds. Monthly trading volume reached new highs in November 2022 and momentum has continued into 2023.
- The price of Solana’s SOL token has also been increasing alongside the growth in NFT sales, hitting $121.45 in late December 2022 amid massive trading volume. The popularity of Solana NFTs appears to be lifting the broader ecosystem.
- A concerning new Telegram scam is draining funds from wallets supporting gasless transactions like ERC-2612 tokens. The scam tricks users into signing permission messages enabling the attacker to authorize withdrawals. Users should avoid signing any suspicious messages approving others to access their funds.
Non-fungible tokens (NFTs) on the Solana blockchain have seen immense growth recently, surpassing $5 billion in all-time sales volume. The cheap fees and fast transaction speeds offered by Solana make it an attractive platform for NFT projects.
Monthly Trading Volume Reaches New Highs
According to recent data from Crypto Slam, Solana NFTs struggled to gain momentum for much of 2022. Monthly sales volumes remained below $40 million from July through October. However, the market sprang to life in November 2022, achieving $82 million in volume for a 192% monthly increase.
Momentum continued into December with the second-highest monthly volume ever of $365 million. January 2023 also impressed with $239 million in sales. So far in February, volume is already at $161 million.
Price of SOL Token Also Increasing
Along with NFT sales, the price of Solana’s SOL token has also been climbing. On December 26, 2022, SOL hit $121.45 with massive trading volume of $5.7 billion. The growing popularity of Solana NFTs appears to be lifting the broader Solana ecosystem.
New Scam Targets Gasless Tokens
A concerning new scam taking place on Telegram is allowing attackers to drain crypto funds without the owner’s consent. The scam targets tokens following the ERC-2612 standard, which enables gasless transfers.
One victim reported losing $600 in OX tokens through the scam after joining a fake Telegram group. The attacker utilized a manipulated version of the CollabLand verification bot. Although the victim never approved a transaction, the attacker drained their wallet.
It appears the scam tricks users into signing permission messages through their wallet. The attacker then uses the signed message to authorize withdrawals. Victims should be vigilant about signing any messages authorizing others to access their funds.
Gasless Transfers Still Require Approval
While the ERC-2612 standard allows gasless transactions, it does not remove the need for owner approval. To prevent this scam, users should not sign messages granting permission to accounts they do not trust. As gasless tokens become more common, this type of attack may proliferate.
Solana NFTs are seeing tremendous growth, but users should remain cautious of phishing scams – even for tokens touting advanced features like gasless transfers. As always, vigilance is required to keep crypto assets secure. The Solana ecosystem continues to develop rapidly, and users should stay informed on best security practices.
