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Some things I have been thinking about are centralization risks, channel state privacy, false positives. A false positive occurs when a watchtower incorrectly identifies a regular, honest transaction as an attempt at fraud.
Idealy you run your own watchtower on another server than your LN-node in a different network. Then you don't have any of those problem you mentioned. In my opinion a false positive can only happen through a software bug which will be fixed if discovered. You can read more about the watchtower here: https://docs.lightning.engineering/the-lightning-network/payment-channels/watchtowers
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