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Wallet Marked as Joseph Lubin Deposits 110,000 ETH to Sky Finance Vaults on Friday, Securing $259.05M DAI Position

GateNews
On-Chain Data
ETH-0.38%
SKY2.46%
According to Lookonchain tracking, an Ethereum genesis block wallet marked as "Joseph Lubin?" by Arkham Intelligence deposited 110,000 ETH to three Sky Finance (formerly MakerDAO) vaults on Friday (June 6), completed across four transactions (40,000, 40,000, 30,000, and 1 ETH). The wallet had remained inactive for over three years. At the time of transfer, ETH was priced around $1,575, down approximately 10% in 24 hours. The deposit was made to supplement collateral for $259.05 million in outstanding DAI debt. Following the deposit, the three vaults hold approximately 412,430 WETH in total collateral, valued at roughly $677 million at current prices, with liquidation prices of $899, $1,020, and $1,056 respectively, maintaining about 55% safety margin above the nearest liquidation line. Neither Lubin nor ConsenSys has publicly confirmed or denied ownership of the address.
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