TREE NEWS reports: Crypto hacks have cost the industry about $26.9 billion since 2017, against roughly $47 billion in total on-chain revenue over the same period, ARK Invest digital asset research head Lorenzo Valente said on Nov. 12. That works out to about 57 cents stolen for every dollar of on-chain revenue generated. The Binance hack alone, at $6.36 billion, exceeded the industry’s entire 2026 on-chain revenue, Valente said, calling security the industry’s bottleneck.
ARK Invest: Crypto Hacks Have Cost Industry $26.9B Since 2017
AI take
Framing security as the industry's bottleneck, rather than a cost of doing business, reframes hacks as a structural drag on the economics of on-chain activity. The comparison matters most for builders and allocators weighing where revenue actually accrues, since a single exchange breach can outweigh a full year of sector-wide revenue. Whether loss ratios of this scale persist as infrastructure matures is the open question worth tracking.
Generated by AI for reference only.
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