What is the difference between lost links and broken links in SEO?

Broken links are links that don’t work. There are few cases that links don’t work:

A particular website is no longer available.
A particular webpage is moved to another domain, without a redirect being added.
URL structure of the webpage could have been changed.
If you click the broken link, you will see 404 error message. But broken links could be fixed by contacting the webmaster.

Lost links are link that no longer exists, that particular link doesn’t refer your site further in search engines. You could have lost a link from the particular site, either that link could have been created by manually or naturally.
 
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