This is my understanding of the risk. Wormhole runs on consensus between a small number of known entity nodes (basically multisig). So potentially Wormhole could be compelled to censor transactions or seize bridged assets. For fungible assets this might be less of a concern because it would be impossible to single out the target, but for something like Uniswap deployment it would be easy for them to eg transfer ownership to an unauthorized third party or take other actions without impacting bystanders.
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