Abstract

With the rise of NFTs popularity, fraudulent activities to manipulate this market also increased. One of these techniques often used by scammers is wash trading, where the asset is traded between multiple accounts by one person or a group to increase the trading volume artificially. This fake demand can be very damaging to private investors, as they invest in an asset that does not have that value. Therefore, providing a website that allows users to check wash trading activity on NFT collections would be helpful. In this work, a methodology is developed to identify wash trades in the transaction history of an NFT collection on the Solana Blockchain. In addition, the user interface of a web page described above is explained, which we developed in the course of the work. Subsequently, this website is used to analyze the wash trading activities of small NFT collections.