According to CoinMeta, ARK Invest, the head of digital asset research, Lorenzo Valente, stated that hacker attacks on cryptocurrencies constitute an implicit transaction tax and a cost of value storage, with the losses ultimately borne by users. Since 2018, the crypto industry has lost an average of 24 basis points of market value each year due to hacker attacks, while the US banking system has suffered deposit losses of 1.7 basis points due to fraud, representing a difference of about 14 times between the two.