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

Techub News reported, according to The Block, Ethereum early developer Griff Green announced the launch of a new security fund named "TheDAO Security Fund" utilizing the unclaimed remaining funds from the 2016 "The DAO" hack. These funds were originally reserved for refunding victims under special circumstances, accounting for approximately 20% of the total amount, initially worth about $6 million, and are now valued at around $200 million.

Specifically, the fund will utilize approximately 70,500 ETH from the ExtraBalance withdrawal contract, along with tokens equivalent to about 4,600 ETH in value from TheDAO Curator Multisig contract, and will support its operations through staking rewards. The funds will be used to support the Ethereum security ecosystem, employing grassroots-oriented funding mechanisms such as quadratic funding and retroactive funding. The Ethereum Foundation's Grants Management team will be responsible for eligibility review for each funding round.