Risk Alert - The industry reminds altcoin enthusiasts to be vigilant against social engineering scams [1] - Scammers and hackers intensify their activities during market upswings, exploiting euphoria and potential oversights [1] Scam Tactics - Scammers befriend users on social platforms to build trust [1] - Luring users to phishing DApps with promises of high returns or airdrops to deposit funds or authorize malicious smart contracts [2] - Creating panic by falsely claiming account freezes or anti-money laundering investigations to extort money [2] - Continuing extortion attempts until all assets are depleted [2] Precautionary Measures - The industry advises users to safeguard their assets carefully [2]