I wouldn't worry so much about security when it comes to WD or another well-known company/group, just be careful not to allow everything that requests to install kernel extensions - that's when then the security problems start. That said, I would worry about crashing or other bugginess starting up though. If you start to notice problems and can link it to the kexts that install you can always remove them later. All of the kernel-panics/crashing problems I've had on my M1 Mini were related to kernel extensions.
As for data disappearing : backups and backups of backups + the most important things into the cloud. Never trust anything.