Actually everyone doesn't have patience to run every warez in virtualbox. Its a lazy practice.
I have analyzed few such exe files where the actual crack is present in the file but one needs to extract it manually but 98% people will simply download, run and bang get infected.
The outer exe is linked to a suspicious exe inside the archive/package which gets triggers while some exes wont show any gui when launched, instead will download some code from xyz site in the background while you are busy running the same exe multiple times and when you see taskmanager you will see those multiple exes running and by that time those exes might had even taken control of your system where you wont even be able to terminate the exes and system gets injected with code and infected.
And gone are the years where one used to get a plain cracked.exe etc. warez in just one click of a link but now its all scam around with fake or infected crap around.