Millions of DAO funds left unclaimed, slowing down ether withdrawals

Rage Comment : In order to recover the losses caused by The DAO vulnerability, developers and miners decided to adopt a hard fork solution, adjusting the time to before The DAO was attacked, and DAO token holders can withdraw ether at an exchange rate of 1 ether: 100 DAO. The hard fork solution was officially implemented on the 20th of this month, but as of the 22nd, 40% of the ether was still unclaimed, and the withdrawal speed gradually slowed down.

Translation: spring_zqy

Millions in DAO Funds Left Unclaimed

Ethereum withdrawals slowed down as a result

In order to allow The DAO investors to recover the funds released by the termination of the project, a smart contract was created, but there are still millions of dollars worth of ether that have not been claimed. This week, 11.6 million ethers were transferred to the above smart contract by changing the underlying code of the Ethereum platform, and more than half of the funds (about 60% of the total, about 6.85 million ethers) were withdrawn.

The remaining 4.75 million ether, worth $68 million at today’s exchange rate, is still waiting to be claimed by investors, but as of press time, the rate of withdrawals has slowed significantly.

According to data from CoinDesk, more than 40% of the 11.58 million ethers were withdrawn during the hard fork, leaving 6.6 million ethers in the account. After 24 hours, 5.2 million ethers were left.

As of press time, approximately 60% of the funds have been withdrawn, with yesterday's progress being 52%.

Judging from the extracted data, the current progress has not changed much

On the first day of the fund opening, a total of 5,000 withdrawals were processed, which was similar to the 6,430 on July 21. However, by July 22, there were only 1,215 withdrawals.

If each withdrawal represents one DAO investor, this means that just over 12,500 investors have received funds so far, or half of the total number of investors (roughly 23,500). However, it is possible that some investors manage multiple addresses.

Representatives of the Ethereum development community said the funds would remain in the account until they were all withdrawn.