Risk of doing contract with with full time working at FAANG

Hi folks,

I am working at FAANG. Recently I received an opportunity to work on contract bases. They pay hourly and work is interesting (which is a main motivation to do side gig).

I am not sure if there is any kind of risk with my full time job. If they can track this side earnings.

Need advice from you, on what should I do? And what things to keep in mind while working on contract bases. Thanks