Yes, there are several risks associated with downloading and using KMSPico. First, since KMSPico is often distributed through unofficial channels, there is a significant risk of downloading malicious software or malware along with the tool. Additionally, using such tools can lead to system instability and potential security vulnerabilities. The use of KMSPico can also result in legal repercussions if it is discovered that the software was activated using unauthorized methods. It is always safer to avoid such tools and opt for legitimate software solutions to avoid these risks.