And the way you send bETH to your ETH wallet is via the bridge, it still has to get from one blockchain to another. Official instructions from that website are below, but the token is still burned, yes. bETH is wrapped stETH on Terra. When it’s bridged back, there should be no more token on Terra.
To convert Terra bETH back to stETH:
- Go to bridge.terra.money, select Terra as the target chain, Ethereum as the destination chain, and bETH as the asset. Specify the amount of bETH you want to convert and an externally-owned account you control as the destination Ethereum address. Sign the transaction.
- After your transaction reaches on-chain finality, the specified amount of Ethereum bETH will be transferred to the specified Ethereum address.
- Use this interface to convert the received Ethereum bETH to stETH.
There have been subsequent successful bridge transactions since these erroneous transfers. So, there was indeed an error for those isolated transactions. The ETH Bridge contract should not have a bETH balance.
When bETH is sent from Ethereum to Terra, the bETH is minted by Lido, sent via the shuttle contract and held in the bETH token vault contract. When it’s sent back, effectively the opposite happens and the terra deployer withdraws the bETH from the Shuttle Vault, sending it to the address specified in the bridge transaction. Here’s an example tx of the deployer sending someone bETH earlier this morning.