Crypto hack losses equal 57 cents per $1 earned onchain: Ark’s Valente
Crypto hackers stole $8.7 billion so far in 2026, surpassing the projected annual onchain revenue generated across the industry, according to ARK’s research director.
Crypto hackers have siphoned off $8.7 billion in 2026, exceeding the projected onchain revenue for the entire year, according to ARK’s Lorenzo Valente. Since 2017, the industry has lost approximately $26.9 billion to cyber attacks while generating $47 billion in total onchain revenue, Valente highlighted in a recent X post. The recent $6.3 billion heist in the Binance hack alone surpasses Valente’s forecasted onchain revenue for 2026.
As of now, the value lost to hacks is on track to surpass onchain revenue for the first time since 2020. High-profile hacks, such as the $387 million Bitget attack in September and the $320 million Liquid Network exploit, have contributed to this trend. JPMorgan analysts have identified bridge security as a persistent challenge in the industry, with decentralized finance (DeFi) total value locked falling nearly 10% since the Binance exploit, from $85.9 billion to $77.4 billion.
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