Crypto Hack Losses Head Past On-Chain Revenue for First Time Since 2020

Crypto hack losses have reached $8.78 billion in 2026, according to DefiLlama. That already tops ARK Invest’s $5.6 billion estimate for on-chain revenue this year, a first since 2020. One attack drives most of that tally. Even so, decentralized finance (DeFi) protocols lost 58% more in 2026 than in all of 2025. Over the same stretch, ARK’s on-chain revenue estimate fell well below last year’s total. How One Exchange Breach Rewrote 2026’s Crypto Hack Losses ARK’s Lorenzo Valente laid out the comparison in a November 12 post. Since 2017, crypto has lost $26.9 billion to hacks and earned $47 billion on-chain. That works out to 57 cents stolen for every dollar earned, based on Token Terminal and DefiLlama data. ARK’s revenue figure covers the 27 largest projects plus all others.

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