The most dangerous threat is a keylogger. A keylogger records every keystroke you make—including usernames, passwords, and credit card details. Attackers specifically target users searching for software activation keys because those users have already demonstrated they are willing to bypass security.
"The key worked for one day. Then my license was revoked. The next week, my PayPal account was accessed from another country. Don't do it." – Quora post, 2024 freegrabapp activation key