There needs to be consent by a Moderator when assigned by a Channel Owner before that user confirms and accepts their role as Moderator. At a minimum there should be a pop-up / click-through TOS reminding the prospective Moderator that they are agreeing to be a Moderator for that channel -- prior to just being assigned Moderator status by a Channel Owner without agreeing first. The Moderator role comes with all different terms of service as well, which the Moderator should knowingly agree/consent to.
Please consider this urgent! This is a high security risk!
I don't understand your "a high security risk".
If you're gonna mod someone and they don't want it, /unmod is a thing.
And if you're gonna mod someone and they are gonna abuse it, they'll still agree to the TOS just to get the sword in the first place.