Considered burning 100K Amex MR points by redeeming for two $500 Hyatt gift cards. Unfortunate the T&Cs say that can only be used in the U.S. (and Canada perhaps), but thought about using them at restaurants in the Grand Hyatt on Kauai. Has the security changed, or is there still a significant risk to purchasing new Hyatt GCs redeemed for Amex MR points--or acquired anywhere.

Aquired anywhere = high risk seems to be the consensus here.