ARK Invest: Crypto Industry Has Lost About $26.9 Billion to Hacks Since 2017

November 12: Lorenzo Valente, Head of Digital Asset Research at ARK Invest, wrote that the crypto industry has lost about $26.9 billion to hacks since 2017, while total on-chain revenue over the same period was about $47 billion, meaning that for every $1 of on-chain revenue the industry earned, roughly 57 cents worth of assets were stolen. The losses from the Binance hack alone ($6.36 billion) exceeded the on-chain revenue for the full year of 2026. He believes security is the bottleneck for the crypto industry's development.