It’s hard to say whether collateral swapping inherently increases this risk.
It is probably equivalent to consider selling versus collateral swapping, though it is not clear to me that collateral swapping would even be mechanically feasible for most platforms where the derivative is minted by the primary platform which would likely prevent ownership transfers of staked positions. This means that derivatives would have to be paid back in order to unlock stake wouldn’t it? If so, any “swap” of positions from one owner to another would be explicitly priced in by the system, diluting the value of the staked asset or potentially incurring slashing penalties.