Unclaimed ETH from 10 Years Ago to Fund $250M Ethereum Security Initiative

Historical Context

On June 17, 2016, a critical vulnerability in The DAO contract was exploited, leading to the theft of approximately 3.6 million ETH. This incident ultimately triggered a hard fork in the Ethereum blockchain, resulting in two separate chains: ETH and ETC.

Latest Developments

Recently, Unchained podcast host Laura Shin released a video in which Griff Green announced that unclaimed ETH from the era is now being used to establish a security fund worth $250 million for Ethereum’s ecosystem.

Vitalik Buterin, co-founder of Ethereum, later confirmed the launch of the fund, stating that more than 75,000 ETH will be allocated to enhance the network’s security infrastructure.

Future Implications

• The fund will support security audits and research initiatives.
• It reflects the growing emphasis on cybersecurity in blockchain development.
• Ethereum’s community aims to proactively address potential threats.