I ran into a situation where the red light went on, indicating access to my pan 3 camera, but neither my wife nor I were doing so.
It was not possible to research who access it from what ip address as access is not presently logged.
For security, I request logging features be added for when users access the camera
I am looking at this and have reached out to see if I can get a clear answer on what you are seeing. In the past, red meant it saw motion, I tested mine and it was showing blue until I connected to the camera, then it turned red. So I am experiencing what you are seeing. As soon as I hear back, I will let you know.
If you are really concerned that someone may be accessing your cameras, you can reach out to Security@wyze.com
However, there is a wishlist item for auditing access here:
Log and notification of device logins - Wishlist / Maybe Later - Wyze Forum
Go and vote for it as this is a great idea.
Edit
See below. When not streaming and the status light turns red, it simply means that the camera has detected motion. This happens when you have Event Recording enabled. If you go into the camera and live stream, the light will also turn red. My statement above was partially correct as I forgot that I turned off Event recroding. Therefore it only turned red when I live streamed.
Where you Infront of the camera when you saw it turn red? When the camera detects motion, the status light turns red also.
Thank you!
Dispel Negativity; Radiate Positivity!
I just tested my Pan V3 running Beta Firmware 4.50.4.4767
The light is blue when operating normally, turns red when viewing cam live stream either in group or cam UI, turns red when motion is occuring in front of the cam and it is uploading a motion event to the cloud.
I thought that as well, but mine was not turning red. Well, I remembered that I turned off Event recording for other testing I was doing. 
@elad101 , my apologies The light does indeed turn red when the camera detects motion. When motion has been cleared the light will turn Blue.
I’ll test it tonight.
Dispel Negativity; Radiate Positivity!
The light does indeed turn red briefly when it detects motion.
My problem is that I saw it was red when I was nowhere near it - twice. It was pointed at an empty crib at the time as well; no open windows, no movement whatsoever.
I implemented 2FA and will change all our internet wifi access passwords.
Definitely felt like a security breach.
These cameras also detect light or pixel changes as motion, shadows etc. Even though no actual movement, it may have detected something.
It’s possible.
The more I learn, the less I feel it was a breach.
Still want the logging feature implemented though
Dispel Negativity; Radiate Positivity!
I agree with the Logging feature. I voted for that as well
