Cryptospecting

FACTS // VERIFIED 2026-10-19

Tether USD from Ethereum (eUSDT)

Short answer

eUSDT is USDT bridged from Ethereum by the official bridge. It can be bridged back for a 0.30 % fee and depends on the bridge’s security.

Bridged asset PulseChain
Contract
0x0Cb6F5a34ad42ec934882A05265A7d5F59b51A2f
Price
—not shown: DEX pairs of bridged tokens (e-tokens) are often thin or mispriced
Verified
2026-10-19

What the contract can do

A token proxy created by the official bridge. Its owner and only minter is the bridge contract 0x4fD0aaa7506f3d9cB8274bdB946Ec42A1b8751Ef: tokens are minted on PulseChain when the original is locked on Ethereum, and burned when they are sent back. The address shown is the one the bridge itself returns for the Ethereum original (bridgedTokenAddress, read on-chain on 2026-10-17).

Who controls it

The bridge is an upgradeable proxy controlled by single wallets, not multisigs. Its owner, 0x4792865c793a2Db4DEbDB30fCb8E38C45B09e7dF (last used to set fees on 10 March 2024), can change fees and limits and can also point the bridge at a different message contract — a power that bypasses the validators. Its upgrade owner, 0xF3BEC23E2f9F9a6ED63191e9dB5EAdDBF97555C9, can replace the contract code and has never done so. Transfers need 5 of 8 validator signatures, and the validator set itself is managed by separate single-key owners. Details on the bridge.

History

The bridge’s token-mediator contracts were deployed on 15 May 2023. On 2026-10-19 (block 27,837,276) eUSDT traded at about 0.999 against eDAI on PulseX. Fees read on-chain for this token at block 27,821,066: 0.30 % from PulseChain to Ethereum, 0 % the other way, plus gas; daily limits also apply.

Risks

Bridge risk: the originals locked on Ethereum stay safe only as long as none of the bridge’s single-key roles — owner, upgrade owner and the owners of the validator contracts — is misused or stolen, and fewer than 5 of the 8 validator keys are compromised. Do not confuse a bridged token with the “p” fork copy of the same name, which is not backed by anything — see system copies.

Unverified look-alikes with similar “… from Ethereum” names exist; use only the address above. DexScreener totals for bridged tokens include fake pairs — some reported about $9.6 billion of liquidity that does not exist — so headline liquidity figures for these tokens are not reliable and none is shown here.

Verdict

Bridged asset, not on the trusted list: essential infrastructure, but upgradeable and controlled by single wallets, so it does not meet criterion C3.

Where to use it

Interfaces that call these contracts, checked on 2026-10-19 — official ones first. A listing is not an endorsement: open apps from a bookmark, check the domain before you connect a wallet and read the risk line. Domains to avoid and what to do when an app is down: Interfaces.

Listing a token is not a recommendation to buy it. Read the trust criteria and the disclaimer.

Sources // last verified 2026-10-19

  1. T1 · Primary PulseScan — eUSDT, owner = bridge
  2. T1 · Primary PulseScan — bridge mediator proxy and source
  3. T1 · Primary Official bridge token list — bridged Ethereum originals

Source tiers are explained in Sources & methodology.