Wash Trades

Organic Trades

Case I: Self-funded wash trades

This scenario occurs when one address provides funds to another address, which then uses those funds to purchase an NFT from the fund provider.

Case II: An NFT token exchanged between same hands

This case occurs when an address sells an NFT to another address and then the second address sells the NFT back to the original address. As long as the NFT exchanges hands between the same parties, both of these transactions should be counted as a wash.

Credit: @Pinehearst - NFT Wash Trading on Ethereum

Case III: Buyer transfers the NFT back to seller and repurchase it

This scenario occurs when an address sells an NFT to another address, and then the buyer returns the NFT to the seller, enabling the seller to resell the same NFT to the same buyer again.

Credit: @Pinehearst - NFT Wash Trading on Ethereum

Case IV: Multiple sales for the same NFT

This scenario occurs when buyers purchase a particular NFT three or more times, when sellers sell a particular NFT three or more times, or when there are four or more collective transactions involving the same NFT, whether buying or selling by a single address.

Credit: @Marqu - Solana NFT Marketplaces | Organic & Wash Trading

Notes

• These cases are not mutually exclusive.
• In the last section, because the charts are not stacked, one can only examine the washed volume specific to each case.
• Cases I and IV are more aggressive compared to other cases.
• Sweep transactions have not been filtered yet, so there is a high possibility that they were flagged under case IV.