Crypto revenue outpaced hacking losses for most years after 2020, until the Binance incident reversed the trend.

Crypto has lost $26.9 billion to hacks since 2017 while earning $47 billion in on-chain revenue, which works out to 57 cents stolen for every dollar made.

This is according to data shared by Lorenzo Valente, the director of research at ARK Invest, who pointed out that security has so far been a costly weakness for the industry.

Binance Hack Pushes 2026 Losses Above Revenue

Valente’s analysis compared revenue data from Token Terminal covering 27 of the largest crypto projects with hack losses tracked by DefiLlama from 2017 to date, and the annual figures…