Ethereum Co-Founder Joseph Lubin Moves $121 Million in ETH After Three Years of Inactivity

Ethereum co-founder Joseph Lubin transferred 80,001 ETH worth approximately $121 million on June 6, 2026, from a wallet that had been dormant for over three years. The transaction occurred as ETH traded at $1,539, down 68% from its all-time high and 47% year-to-date. The wallet retained 243,300 ETH valued at $370 million after the sale, representing 75% of its original balance. The destination of the transferred ETH was not disclosed.

Lubin wallet transaction

• ▪The Ethereum wallet with address 0x1b3Cb81E51011b549d78bf720b0d924Ac763A7C2 held a total balance of 243,300 ETH valued at around $370 million after the June 6, 2026 sale
• ▪The Ethereum wallet with address 0x1b3Cb81E51011b549d78bf720b0d924Ac763A7C2 had been inactive for more than three years before the June 6, 2026 transaction
• ▪The destination of the 80,001 ETH transferred on June 6, 2026 has not been disclosed
• ▪The Ethereum wallet with address 0x1b3Cb81E51011b549d78bf720b0d924Ac763A7C2 retained 75% of its balance after the June 6, 2026 transaction
• ▪Joseph Lubin disposed of 80,001 ETH valued at around $121.6 million from an Ethereum wallet on June 6, 2026

Ethereum price decline

• ▪ETH had lost 47% year-to-date as of June 6, 2026
• ▪ETH price was down by 68% from its all-time high as of June 6, 2026
• ▪ETH 24-hour trading volume spiked by 35% to hit $35.3 billion as of June 6, 2026
• ▪Ether price declined by almost 24% over the 7 days preceding June 6, 2026
• ▪ETH was trading at a price of $1,539 at the time of the June 6, 2026 article publication

Dormant wallet reactivations

• ▪An ICO wallet with 40,000 ETH was awakened and the ETH was staked in 2026
• ▪A dormant wallet that had been inactive for three years collected 10,000 ETH and immediately sold it in exchange for $17.7 million of USDC in 2026
• ▪A nine-year dormant Ethereum whale moved 50,000 ETH worth $145 million to the Gemini exchange in January 2026 while maintaining 85,000 ETH
• ▪An old ICO Ethereum wallet sent out 10,000 ETH worth $22.88 million in April 2026 after 10 years of dormancy
• ▪Dormant wallets that had been inactive between one and four years collected almost 18,000 ETH during the 2026 downtrend without selling it

Lubin background history

• ▪Joseph Lubin is the CEO of blockchain software company Consensys
• ▪Consensys provides blockchain infrastructure solutions including MetaMask, Infura, and Linea
• ▪Linea is a second-layer network provided by Consensys

Public silence on transfer

• ▪Joseph Lubin did not mention his own ETH transfers in his June 5, 2026 post on X about STRATO
• ▪Joseph Lubin made a post on X about a token sale called STRATO on June 5, 2026, referring to it as "a strong start"