It is suspected that Ethereum co-created a Lubin-linked wallet to inject 110,000 ETH into Sky's vault, consolidating $259 million DAI positions

Comparative news, according to Lookonchain tracking, one was labeled “Joseph Lubin?” by Arkham Intelligence The Ethereum Genesis blockchain wallet deposited 110,000 ETH into three Sky Finance (formerly MakerDAO) gold deposits on Friday, which were completed in four transactions (40,000, 40,000, 30,000, and 1 ETH).

The wallet had previously been inactive for over 3 years. At the time of the transfer, ETH was quoted at around $1,575, down about 10% in 24 hours. The deposit was intended to supplement collateral for the $25905 million outstanding DAI debt. The total amount of WETH collateral deposited into the latter three vaults is about 412,430, worth about US$677 million at the current price. The liquidation prices for the three vaults are 899, 1,020, and 1,056 US dollars, respectively, and there is a safety margin of about 55% from the nearest liquidation line.

Neither Lubin nor ConsenSys have publicly confirmed or denied ownership of the address. Previously, Lookonchain mistakenly attributed an LDO sell-off to Lido co-founder Cobie three days ago, then withdrew and confirmed that the wallet belonged to Wintermute, and the on-chain label may have been misjudged.