ARK Invest: Crypto Hacks Have Caused $26.9 Billion in Losses Since 2017, 2026 Losses on Track to Exceed On-Chain Revenue for First Time Since 2020

November 12 — According to a social media post by Lorenzo Valente, Research Director at ARK Invest, since 2017, the crypto industry has cumulatively lost $26.9 billion to hacker attacks, while on-chain revenue over the same period was $47 billion, equivalent to 57 cents stolen for every $1 of on-chain revenue the industry earned. He stated that the $6.36 billion in losses from the Binance hack alone already exceeds all on-chain revenue in 2026, and said "security is the bottleneck."

Valente also shared an ARK Invest chart, noting that driven by the aforementioned Binance hack, the value lost to hackers in 2026 is expected to exceed on-chain revenue for the first time since 2020. The chart shows that 2026 hacker losses are year-to-date data as of November 11, without extrapolation, totaling $8.7 billion, of which the Binance hack accounts for $6.36 billion; on-chain revenue is annualized based on actual values for the first three quarters of 2026 plus fourth-quarter estimates, at $5.6 billion. By comparison, in 2020 hacker losses were $4 billion and on-chain revenue was $1 billion, while in 2021 on-chain revenue reached $12.5 billion.