ARK Invest Researcher Says Crypto Hacks Add Hidden Costs for Users
Photo: TokenPost
Crypto hacking losses may become an indirect cost for users when businesses account for stolen value in their pricing, ARK Invest digital assets research head Lorenzo Valente argued in a Nov. 3 post. Valente put average annual hacking losses in the crypto industry since 2018 at 0.24% of total market capitalization. He put fraud-related deposit losses in the U.S. banking system at 0.017%, making the crypto figure about 14 times the U.S. banking figure. The comparison uses different measures: crypto losses as a share of total market value and bank fraud losses as a share of deposits.
Source: TokenPost
