Stay Safe on Solana
Crypto is exciting, but scammers are always looking for easy targets. The good news is that a few simple habits can protect you from the vast majority of threats. This guide covers the most important things every Solana user should know.
Common Scams to Avoid
A "rug pull" is when a token creator hypes up a project, gets people to buy in, and then disappears with the money. Red flags include anonymous teams, unrealistic promises, and locked liquidity that isn't actually locked.
Scammers send random tokens to your wallet or DM you on Discord/Twitter with "free money" offers. Never click links from strangers, and never interact with unknown tokens that appear in your wallet — just ignore them.
Scammers create fake versions of popular sites (like Jupiter or Phantom) that look identical but steal your funds. Always double-check the URL and bookmark sites you use regularly.
No legitimate service, app, or person will ever ask for your seed phrase (recovery words). If anyone asks, it's a scam — 100% of the time. Never type it into any website.
Checking Tokens Before Buying
Before buying any token, take a minute to check if it's legitimate. Here's how:
- Check the contract address — copy it from the official project site or social media, not from a random message. Look it up on Solscan or Solana FM.
- Look at holder distribution — if one wallet holds most of the supply, that's a warning sign.
- Check liquidity — low liquidity means it could be hard to sell, or the price could crash easily.
- Use RugCheck.xyz — paste a token address to get a quick safety score and see any red flags.
Revoking Token Approvals
When you use DeFi apps, you often give them permission to access your tokens. Over time, these approvals can pile up. It's a good habit to revoke ones you no longer need.
How to revoke approvals:
- Visit a token approval manager (like the one built into Phantom wallet settings)
- Connect your wallet
- Review the list of apps that have access
- Revoke any that you no longer use or don't recognize
Wallet Safety Habits
- Write down your seed phrase on paper — store it somewhere safe offline, never in a screenshot or cloud document.
- Use a separate "burner" wallet for trying new apps or minting unknown tokens. Keep your main funds in a separate wallet.
- Enable transaction previews — Phantom and other wallets can show you what a transaction will do before you approve it.
- Keep your wallet app updated — updates often include security fixes.
- Consider a hardware wallet (like Ledger) for larger amounts — it keeps your keys offline and much harder to steal.
The Golden Rule
If something sounds too good to be true, it probably is. Take your time, do your research, and never rush into anything — especially when someone is pressuring you to act fast.