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ARK Invest: Crypto hackers have suffered total losses of $26.9 billion since 2017, and losses in 2026 are on track to exceed on-chain revenue for the first time since 2020.

1 days ago

According to a social media post from ARK Invest Research Director Lorenzo Valente, the crypto industry has lost a total of $26.9 billion to hacks since 2017, while cumulative on-chain revenue over the same period stands at $47 billion—meaning for every $1 the sector earns in on-chain revenue, 57 cents are stolen. He noted that the $6.36 billion loss from the Binance hack alone exceeds the total projected on-chain revenue for 2026, adding that “security is the bottleneck.” Valente also shared an ARK Invest chart, pointing out that driven by the Binance breach, crypto hack losses in 2026 are on track to surpass on-chain revenue for the first time since 2020. The chart shows that as of November 11, 2026, year-to-date hack losses (not extrapolated) total $8.7 billion, with the Binance hack accounting for $6.36 billion. On-chain revenue is calculated by annualizing actual figures from the first three quarters of 2026 and adding the fourth quarter estimate, coming to $5.6 billion. For context, in 2020, hack losses hit $4 billion while on-chain revenue was $1 billion; in 2021, on-chain revenue reached $12.5 billion.

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