ARK Investment Management researcher Lorenzo Valente said hackers have stolen about 57 cents for every $1 blockchain protocols have earned onchain since 2017. He put losses at about $26.9 billion and revenue at $47 billion over that period.
Valente said $8.7 billion in hack losses year to date had already exceeded his estimated $5.6 billion in onchain revenue for all of 2026. He said losses were on track to exceed revenue by year-end for the first time since 2020; that is a projection, not a final result. Separately, DeFi’s total value locked fell from $85.9 billion on Oct. 29 to $77.4 billion on Thursday, according to DefiLlama.
