Ethereum to Mobilize Unclaimed DAO Funds for $220 Million Security Initiative

In a move that feels like a long-awaited resolution to one of Ethereum’s foundational traumas, the community is now channeling the ghosts of the 2016 DAO hack into its future security. During an interview on Unchained, Griff Green, a stalwart community member and Giveth co-founder, revealed plans to mobilize over 70,500 ETH—worth a staggering $220 million at current prices—from unclaimed balances tied to those original, unresolved smart contracts.This capital isn't being returned or burned; it's being strategically deployed into a new entity dubbed The DAO Fund, explicitly dedicated to fortifying Ethereum's security infrastructure. For those who lived through the hack and the ensuing hard fork that created Ethereum Classic, this represents a profound full-circle moment.It’s a testament to the network's maturing governance and its ability to repurpose historical baggage into a proactive resource. The initiative underscores a core tenet of the ecosystem: that its greatest strength lies in its resilient, self-sovereign community.By converting these dormant, contentious funds into a war chest for validators, bug bounties, and core development, Ethereum isn't just addressing a technical need; it's making a philosophical statement about collective stewardship and long-term vision over short-term profit. This isn't a bailout or a grant—it's a strategic reinvestment of community capital, back into the community's most critical layer. The plan, swiftly confirmed in a post on X, signals a shift from reactive crisis management to proactive, community-funded defense, setting a powerful precedent for how decentralized networks can leverage their own history to secure their future.

#ethereum

#dao

#security fund

#defi

#giveth

#griff green

#unchained

#$220 million

#featured