Yeah that's my biggest fear next to it being stolen. Looking into registration and insurance as a moped or motorbike might not be a bad idea.
You cannot get insurance on an illegal ebike, and you can't register a bicycle as a motorcycle, since it comes with no VIN.
Check out what your moped laws are before considering it an option.
If you're going to build a very fast bike, make it not look like one:
^-- super hiryuu, 59mph top speed
...or simply convert a scooter