ARK Investment Management researcher Lorenzo Valente said hackers have stolen about $26.9 billion from the crypto industry since 2017, compared with $47 billion in total onchain revenue—roughly 57 cents stolen for every $1 earned. He said losses from hacks so far in 2026 had reached $8.7 billion, already above his $5.6 billion estimate for the full year’s onchain revenue. He projected that annual hack losses could exceed onchain revenue by year-end for the first time since 2020.
Valente said the recent $6.3 billion Binance hack alone exceeded his full-year revenue estimate. According to DefiLlama, total value locked in decentralized finance fell from $85.9 billion to $77.4 billion after the exploit; the figures do not establish that the hack caused the entire decline.
