ARK Invest's crypto research head Lorenzo Valente has revealed that the cryptocurrency industry has suffered significant financial losses due to hacks since 2017. According to Valente, the total amount stolen over this period amounts to approximately $26.9 billion. This figure was shared on the platform X, as reported by Foresight News.
Valente also highlighted that the total on-chain revenue generated by the crypto industry during the same timeframe was around $47 billion. This means that for every dollar in on-chain revenue, roughly $0.57 was lost to hackers. The researcher emphasized that security issues have become a major obstacle to the industry's growth and development.