What To Look-out For When Running Your Own Public Proxy?

What To Look-out For When Running Your Own Public Proxy?
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#1

Folks,

I want to run a web proxy service that will be freely available to the public. Open proxy.
A service like anonymouse.org.
Now, what are the risks involved in running such a venture ?
What should I look-out for ?
Is this Mini Proxy safe to use ?
https://github.com/joshdick/miniProxy/blob/master/miniProxy.php