What are the risks of WBTC?

Could you elaborate on the potential risks associated with Wrapped Bitcoin, or WBTC? As a cryptocurrency enthusiast, I'm keen to understand the challenges and drawbacks that investors might face when dealing with this asset. Are there any security concerns, liquidity issues, or regulatory hurdles that I should be aware of? Additionally, how does the stability of WBTC compare to that of traditional Bitcoin, and what measures are in place to mitigate potential risks?