A genesis-block Ethereum wallet labeled "Joseph Lubin?" by Arkham Intelligence deposited 110,000 ETH into three Sky Finance vaults on Friday, shoring up the collateral behind $259.05 million in outstanding DAI debt as ETH prices fell sharply, per Lookonchain.
The transfers arrived in four transactions totaling 110,001 ETH: three batches of 40,000, 40,000, and 30,000 ETH, plus one of 1 ETH. The wallet had been inactive for more than three years before Friday's movement. ETH was trading around $1,575 during the transfers, off roughly 10% over 24 hours.
The originating address carries the label "Joseph Lubin?" on Arkham Intelligence. Arkham also tags the address as a Genesis Block Address, meaning it received ETH in Ethereum's original July 2015 distribution to early contributors.
Lookonchain flagged the transfer on X on June 6, framing it as a potential sell signal before the Sky vault destination became clear. Neither Lubin nor ConsenSys has made any public statement confirming or denying ownership of the address.
Attribution accuracy is relevant. Three days before this transfer, Lookonchain publicly attributed a 20 million LDO token sale to Lido co-founder Cobie, only to retract the claim after Cobie identified the wallets as belonging to Wintermute. On-chain labels can be wrong.
