**Unclaimed Ethereum from The DAO Hack to Fund New Security Initiative**

Griff Green, a prominent Ethereum advocate, has announced plans to redirect unclaimed Ether from the 2016 hack on The DAO into a new security fund aimed at strengthening the network.

The DAO, a decentralized autonomous organization, was exploited in June 2016 by an anonymous hacker who siphoned off more than $50 million worth of Ether at the time. The incident led to a hard fork of the Ethereum blockchain, resulting in two separate chains: Ethereum and Ethereum Classic.

Green explained that while the hard fork returned a significant portion of the stolen funds to tokenholders, the claims process was not straightforward. He revealed that around $6 million worth of Ether was handled through a multisignature wallet he joined, with over 80% of those funds having been claimed since then.

However, the remaining balance is now worth approximately $200 million. Green stated that this unclaimed Ether will be staked and used to support Ethereum security initiatives.

"We're going to stake them and use the revenue to actually support Ethereum security," he said. "Making Ethereum safer than a bank is the goal."

Green emphasized that The DAO's focus will now shift towards security, with an emphasis on developing and implementing distribution methods for securing the broader ecosystem. These methods include retroactive funding, quadratic funding, conviction voting, and ranked-choice voting.

"We really want to stick to our guns with The DAO and live up to the name of The DAO, so we're going to focus on DAO-style distributions," he said.

Green acknowledged that The DAO has an "incredible" team capable of identifying security projects to support. However, he emphasized that the priority will be on developing security distribution methods rather than project selection.

"I really want to see The DAO security fund come to a place where people feel that it's safer to store assets on Ethereum than in a bank," Green said.

Green also noted that The DAO played a significant role in kickstarting the security industry in Ethereum, as smart contract audits became widespread following the hack. He expressed his vision for the new security fund to be a driving force in securing the network and ensuring the safety of assets stored on Ethereum.

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