- The risk of hacking the wallet, as well as fraud, in which the user himself gives the code that gives access to his cryptocurrency.
How can someone giving his own private key to other person is called as hacking? I don't think there's a wallet can be hacked because it's secured with cryptography and BIP39 that would make anyone really hard to guess the correct combination of 12 or 24 words.
If you're talking about custodial wallet e.g. exchange, no one should hold their coins for long time using custodial wallet in the first place.