Well... it is a good question. You seem to have researched it or well aware of the rules .... And as you know the laws are pretty strict - you are not even allowed to do day trading.
Most students don't endanger their status as long as they can help it. The IRS and the USCIS are not connected or have not been (which blows my mind) so you could technically work and potentially not get caught but it would not be hard for them to catch you and that's where the risk is. I would say it is a big risk that is likely not worth it because nobody can tell you that it won't have consequences.... and with the H1B being as competitive as it's been last few years before the pandemic, not sure you want to give any reasons to the immigration services to refuse you.
Second, you need a SSN to be able to work and get paid. Any company that pays you over $600 has to get your SSN and sometimes it takes a while for students to get it and start working with it. But if USCIS runs your taxes/SSN, they will see reports from 3-4 diff places. That will be a red flag potentially.
But not all is bad and gone. One tool that should be available available is applying for hardship and to allow you to work outside of campus jobs. Second option is asking the school for TA opportunities. That will be your best and easiest way to earn money. Third, you can try to find an internship that is relevant to your focus and concentration, Fourth, if you are desperate and have to find a way to make the ends meet, you can do jobs that do not require tax reporting such as tutoring, buying/selling stuff on Amazon/ebay. Alternatively, get paid for you work in your home country.
Ultimately I don't know that anyone can tell for certain what kind of margin or scrutiny is given to students. However, nobody can tell what it will be in a few years. I have heard all kinds of stories across the board of people doing all kinds of things (some are really reckless and disregarding the rules around the visa) but I don't know if you should/could count on those.