Is it safe to hold WBTC?

I've been hearing a lot about Wrapped Bitcoin (WBTC) recently, and I'm considering adding it to my crypto portfolio. But before I make any decisions, I want to make sure it's a safe investment. Could you please tell me more about the safety of holding WBTC? I'm particularly concerned about the risks associated with it, such as hacks, scams, or volatility in the market. I'd also like to know if there are any measures taken to ensure the security of WBTC holdings. Thank you for your time and expertise in this matter.