Ethereum Security Fund Launched Using Unclaimed ETH from The DAO Hack

Unchained podcast host Laura Shin released a video featuring Griff Green, who announced the revival of The DAO nearly a decade after the 2016 hacking incident. According to Foresight News, unclaimed ETH from the hack is being utilized to establish an Ethereum security fund valued at $250 million. Subsequently, Ethereum co-founder Vitalik Buterin confirmed that the DAO Security Fund has officially commenced, deploying over 75,000 ETH to enhance Ethereum's security. On June 17, 2016, a vulnerability in The DAO contract allowed hackers to steal approximately 3.6 million ETH. This incident ultimately led to an Ethereum hard fork, resulting in the creation of two separate chains: ETH and ETC.