Ethereum developer Griff Green will use the unclaimed funds from The DAO hack incident to establish a new security fund

According to market news, early Ethereum developer Griff Green announced the launch of a new security fund called "TheDAO Security Fund," utilizing the unclaimed remaining funds from the 2016 "The DAO" hacking incident. These funds were originally reserved for compensating victims in special circumstances, accounting for about 20% of the total amount, which is now valued at approximately $200 million.

The fund will hold about 70,500 ETH (from the ExtraBalance withdrawal contract) and approximately 4,600 ETH worth of DAO tokens (from TheDAO Curator Multisig), and will support operations through staking rewards. The funds will be used to support the Ethereum security ecosystem, with funding mechanisms adopting grassroots-oriented models such as quadratic funding and retroactive funding. The Ethereum Foundation's Grants Management team will be responsible for the eligibility review for each round of funding. This initiative is seen as part of the Ethereum Foundation's "trillion-dollar security plan."