ARK Analyst: Crypto Market Has Lost About 24 Basis Points of Market Cap to Hackers Each Year Since 2018

November 3 — ARK Invest crypto analyst Lorenzo Valente posted on X that hacking is a "hidden tax" on trading and storing value in crypto, much like shoplifting: its cost ultimately gets priced in and borne by users, and every hack weakens the competitiveness of crypto networks. According to DefiLlama data, since 2018 the crypto market has lost an average of about 24 basis points of market cap per year to hacks, while the U.S. banking system loses about 1.7 basis points of deposits to fraud — a gap of roughly 14 times.