i am sorry guys, i have to step in here.
So why would it be more of a risk if we have analytics on a site doing BH i.e scrapebox or xrumer blasting over a site that doesnt have analytics installed and it is doing the same?
Considering all these events are outside of your website itself with exception of incoming links - but hey - guess what. You dont need Google analytics to show the amount of links to your site.
I am sorry guys, but this is only if your doing any cloaking or crap with adsense etc. For your basic BH stuff, dont be fooled to running scared.
Too many people in this forum will read something without investigating further or trying it themselves and just end up like another flock of sheep.