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EOS is a ERC20 token which is currently sold for ETH. 2 million EOS are sold every 23 hours for about 20K ETH as seen on https://eos.io/distribution/

However, what puzzle me is that when I do a transaction scan on etherscan using (http://api.etherscan.io/api?module=account&action=txlist&address=0xd0a6E6C54DbC68Db5db3A091B171A77407Ff7ccf&startblock=0&endblock=99999999&sort=asc&apikey=***) I find that there were no spend transaction because the address only appear in the "to" field and never in the "from" field.

So, I am assuming all the ETH should still be in the same wallet. Their website report there should be at least 3.3M ETH (excluding the first token sale), however https://etherscan.io/address/0xd0a6e6c54dbc68db5db3a091b171a77407ff7ccf shows there are only 31K ETH.

QUESTION: What happened to the other 3.2M ETH tokens? Is there another way to spend/hide/move ETH in a wallet so that it won't register as a public spend transaction?

(DISCLAIMER: I am not trying to cause FUD or promote token sales. I am only trying to understand how the ETH technology work and use the EOS distribution as a real world example.)

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The crowdsale contract implements a functionality that allows owners to retrieve deposited funds

// Crowdsale owners can collect ETH any number of times
function collect() auth {
    assert(today() > 0); // Prevent recycling during window 0
    exec(msg.sender, this.balance);
    LogCollect(this.balance);
}

The exec function makes a call that will transfer the contract balance to msg.sender.

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In case someone else was also wondering. They use internal transactions (https://etherscan.io/address/0xd0a6e6c54dbc68db5db3a091b171a77407ff7ccf#internaltx) to transfer the funds to EOS-Owner (https://etherscan.io/address/0x9937dbb2128b55c44d8af7bf36fd76796a814cf4).

Apparently internal transactions are automatically created by a smart contract.

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    To add to this: Smart contracts can only send these internal transactions (the proper term is "message calls"). They can't create on-chain transactions because they don't have private keys that can sign transactions. – flygoing Feb 25 '18 at 14:51

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