# @LorenzoARK: Crypto hacks cost ~24 bps of market cap yearly, 14x US bank fraud

Source: https://x.com/LorenzoARK/status/2117629749535146116
Kiwi News: https://news.kiwistand.com/stories/LorenzoARK-Crypto-hacks-cost-24-bps-of-market-cap-yearly-14x-US-bank-fraud?index=0x6aeb00e6a99cdc72ba05e190fe2a84b3ed387c752874fe4b0bda6d8242d5795d223a8883
Submitted by rvolz.eth on 2026-11-04 UTC, 2 upvotes, 0 comments

Who pays for crypto hacks?

Everyone forgets hacks are an invisible tax on transacting and storing value in crypto. Like shoplifting, the cost gets priced in and users pay for it.

Every hack makes crypto less competitive as a network.

Since 2018, crypto has lost an average of 24 bps of market cap per year to hacks.

The US banking system loses 1.7 bps of deposits to fraud.

That’s a 14x gap