Gm, Gruta Fam!
We don’t want to migrate like other tokens from the BF eco. We don’t want to run away from problems. We truly believe in
$Bonk , so we’re doing everything in our power to change the situation.
The situation, to put it mildly, is not great. We already wrote that, in our opinion, a share of the market was lost due to the incompetence of the BF leadership and specifically
@SolportTom
Now, after carefully studying how
@bonkfun is structured, I have to conclude that besides incompetence, there is also a quite deliberate plan (I may be wrong, but I personally have no other explanation) by the current BF leadership to create an absolutely opaque and suspicious system. This not only undermines trust but can also lead to very serious legal consequences.
Judge for yourselves how the system is built and what the risks are:
1. BonkFun operator is hidden despite a public partner
51% of BonkFun revenue goes to Bonk, Inc. (BNKK) — a public Nasdaq-listed company accountable to the SEC. This is real transparency, and the dashboard at
revenue.letsbonk.fun shows on-chain distribution that anyone can verify.
But Bonk, Inc. is only the revenue recipient, not the platform operator. The operator remains an unknown BVI entity. In the Terms of Service (
bonk.fun/terms-of-service), Section 1 literally says: “For specific information about the legal entity behind
Bonk.fun, please contact us at the email listed in Section 14.” The legal entity is not named in the ToS or Privacy Policy — everywhere it’s just “
Bonk.fun”. Jurisdiction: British Virgin Islands.
For comparison:
pump.fun is also BVI, but their ToS directly names Baton Corporation Ltd. (UK, Company No. 14743013), three publicly known founders, a specific arbitration mechanism (BVI Arbitration Act 2013, Tortola), and a concrete list of prohibited jurisdictions. And even with all that,
pump.fun received two class-action lawsuits and an FCA warning.
BonkFun chose not to disclose even what
pump.fun disclosed — despite tens of millions of dollars having passed through the platform from September 2025 to March 2026.
In essence, no one knows what legal entity actually stands behind BF.
2. Anonymous operator controls ~23% of revenue
51% goes to the public Bonk, Inc. — transparency exists here. But the remaining ~23% (per the dashboard:
$GP Reserve 7.67%, Hiring/Growth 7.67%, Development/Integration 7.67%) goes to Graphite Proto — Tom’s company. Tom’s real name is unknown. Graphite Proto has no public registration — no jurisdiction, no company number, no address.
So nearly a quarter of many tens of millions of dollars flows through a completely opaque entity controlled by an anonymous person. For the Bonk, Inc. portion, SEC reporting works. For the Graphite portion — zero accountability.
3. Conflict of interest via
$GP
BonkFun revenue → 7.67% directly to
$GP Reserve (straight from the dashboard). Tom owns
$GP. He makes strategic platform decisions that most likely directly enrich his own token. He himself stated $300-700k per week in buybacks, a $1m LP pool for
$GP, and hiring a COO specifically for
$GP.
At the same time, the official
@bonkfun account has never once mentioned the
$GP token. Zero conflict-of-interest disclosure. The fact that 51% goes to a public company does not remove the question of how the remaining 23% is used.
4. Public financial promises without reporting
The
revenue.letsbonk.fun dashboard shows overall distribution — and that’s good. But it does not confirm Tom’s specific promises to the communities: