Crypto hack losses equal 57 cents per $1 earned onchain: Ark’s Valente
Crypto hackers have stolen $8.7 billion so far in 2026, surpassing the projected annual onchain revenue of $5.6 billion across the blockchain industry, according to ARK Investment Management.
Crypto hackers have stolen $8.7 billion so far in 2026, surpassing the projected annual onchain revenue of $5.6 billion across the blockchain industry, according to ARK Investment Management. This represents a significant security challenge for the rapidly growing sector.
Since 2017, the crypto industry has lost about $26.9 billion to hacks while earning $47 billion in total onchain revenue, meaning hackers have stolen 57 cents for every $1 earned onchain, according to Lorenzo Valente, ARK's research director.
Security is the bottleneck
Major Hacks
The recent $6.3 billion stolen in the Binance hack alone exceeded Valente's estimate for full-year 2026 onchain revenue. Value lost to hacks is on track to exceed onchain revenue by year-end for the first time since 2020.
The crypto industry has seen a string of high-value hacks this year, including September's $387 million Bitget hack and the $320 million Liquid Network exploit, as well as April's $295 million Drift Protocol exploit.
Industry Impact
The mounting security exploits are weighing on institutional appetite for DeFi. In an April research note, JPMorgan analysts identified bridge security as a long-standing challenge for the industry.
Total value locked in decentralized finance (DeFi) has fallen nearly 10% since the Binance exploit, from $85.9 billion on Oct. 29 to $77.4 billion on Thursday, according to DefiLlama.
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