Ethereum · The Block
Wallet linked to Ethereum co-founder Joseph Lubin moves 110,000 ETH to defend $259 million DAI debt position
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
A wallet linked to Ethereum co-founder Joseph Lubin transferred 110,000 ETH, worth approximately $170.78 million, across three large transactions to three different wallets early on Saturday ET, with the funds deposited as additional Sky (formerly MakerDAO) collateral as ETH slid below $1,600, according to onchain analytics platform Onchain Lens.
Key facts
- The vaults' liquidation prices sit at $899, $1,020, and $1,056 per ETH, leaving the position roughly 33% above the closest liquidation threshold at ETH's current price near $1,560
- ETH is down approximately 24% over the past week and 47% year-to-date, trading near $1,560 at press time
- Onchain data shows the wallet supplied the ETH across three Maker vaults containing a combined 412,430 WETH in collateral against $259.05 million in DAI debt
- One of the destination wallets is the same Lubin-linked Maker wallet Onchain Lens flagged in February, when it held 137,908 ETH and had $107.77 million in DAI borrowed
Summary
The wallet is labeled "Joseph Lubin? " by Arkham Intelligence and tagged as a Genesis Block Address that received ETH in Ethereum's July 2015 distribution. Onchain data shows the wallet supplied the ETH across three Maker vaults containing a combined 412,430 WETH in collateral against $259.05 million in DAI debt. One of the destination wallets is the same Lubin-linked Maker wallet Onchain Lens flagged in February, when it held 137,908 ETH and had $107.77 million in DAI borrowed. The source wallet was not entirely dormant before Saturday.