Why is USDC risky?

I'm curious, could you elaborate on why USDC is considered risky? Given that it's purportedly backed by the US dollar, it seems to offer a degree of stability in the volatile cryptocurrency market. But I've heard concerns about its centralized nature and the potential for hacks or security breaches. Could you explain how these factors contribute to the risks associated with investing in USDC? Also, I'm interested in how the fluctuations in the US dollar itself might impact the value of USDC. And finally, could you discuss any additional risks that investors should be aware of when considering USDC as a potential investment?