Part of StonkFun's reward tax went to the team
An 86,000-view post said the tax StonkFun holders pay partly ends up in team wallets. It named the wallet. We checked the transactions.
On 22 September, @seeexbt posted that StonkFun was "secretly sending tax profits from coins to their team wallets," and named the wallet: 5KXD…6tD. The post has been seen 86,506 times. StonkFun hasn't answered it.
Here is what that wallet is. StonkFun's reward coins withhold a tax on every transfer, 3% on GP and CRACKER. On both, 5KXD…6tD is the one wallet allowed to collect it. It sells what it collects and pays holders in batches. StonkFun's developer docs say a reward launch "distributes the mint's transfer tax to holders and has no creator fees at all."
It also paid the team. From August to 20 September, 5KXD…6tD made 10,521 transfers to two wallets: the one StonkFun's own API lists as STONK's creator, until 5 September, and after that the wallet Bitquery identifies as StonkFun's treasury. Where prices exist, they add up to $630,000: $67,000 to the creator and $563,000 to the treasury. Two-thirds of the transfers are in coins with no price data, so the real total is higher. One transfer, on 8 September, was 158.9 SOL. The ones we opened are transfers of their own, signed by the tax wallet alone, not part of a holder payout. The transfers stop on 20 September, the day StonkFun moved holder payouts to a new wallet. We found none from the new wallet to the creator or the treasury through 28 September.
We checked that the money in the wallet is the tax, not something passing through. We took the 22 largest payments into it, from its 11 biggest sources between 5 and 20 September. Every one is a swap the tax wallet signed itself, selling tokens; none is a platform fee being collected. Bitquery separately found at least $1.41 million in reward payments to wallets tied to StonkFun's creator and treasury that the reward ledger leaves out. Our count comes from a different method and overlaps with theirs.
Not all of @seeexbt's post holds. It ends: "8 figs gone and no explanation of where that money is." StonkFun publishes its revenue: $27.6 million in total, $16.5 million of it spent buying back STONK, as of 29 September. What it keeps beyond that is disclosed, and moving it isn't what the reward tax is for. The team payments above are the part without an explanation.
We asked StonkFun by 10:17 PM ET on 28 September, by DM to @LaunchOnSF, what the payments were, citing two of the transfers and the line from its docs. We gave 24 hours and said we would print the answer in full. StonkFun had not replied by publication at 6:22 AM ET on 30 September, about 32 hours later. We'll add its answer if one comes.
- What the payments to the creator and treasury were for. StonkFun hasn't said: not on X, not in its docs, not to Bitquery, and not in reply to our questions.
- Why the payments stopped on 20 September, when payouts moved to a new wallet (HuBMe…i8Ga), and whether that change was meant to end them.
- The full dollar total. Two-thirds of the transfers are coins with no price data, so $630,000 is a floor.
- Whether every dollar paid to the team came from holders' tax. The largest payments into the tax wallet are all its own swaps, but we checked a sample of the biggest, not all of them.
What the tax wallet paid the team
transfers from 5KXD…6tD, Aug–Sep 2026 · priced where Dune has a price| To | When | Transfers | Priced total | Unpriced transfers |
|---|---|---|---|---|
| Creator wallet (H6qo…acRQ) | until 5 Sep | 1,388 | $67,449 | 2,863 |
| Treasury (458a…Ukre) | 5–20 Sep | 1,947 | $562,550 | 4,323 |
| Total | 3,335 | $629,999 | 7,186 |
The claims, checked
who said it, and what the evidence shows“what you don't know is the tax we pay, a good amount of it goes to team wallets”
The wallet that collects and pays out the reward tax sent at least $630,000 to StonkFun's creator and treasury wallets between August and 20 September, in transfers of their own, not holder payouts. The money in that wallet comes from it selling tokens: its 22 largest inflows are all its own swaps.
“placing over 7 figures into the team wallets”
Where prices exist we count $630,000, and two-thirds of the transfers are unpriced, so the true figure is higher. Bitquery separately puts off-ledger reward payments to team-tied wallets at no less than $1.41 million. Seven figures is plausible; our count doesn't reach it.
“a reward launch distributes the mint's transfer tax to holders and has no creator fees at all”
No creator fee is set on the reward coins themselves, and the tax is collected by the reward wallet. But that same wallet has paid StonkFun's creator and treasury wallets at least $630,000.
“8 figs gone and no explanation of where that money is”
StonkFun publishes its revenue ($27.6 million) and its buybacks ($16.5 million). The eight-figure sums have a stated home. The reward-tax payments to the team are what lack an explanation, and they're in the six-to-seven-figure range, not eight.
The wallets
3 on fileThe coins
Sources
Know more, or named here and want to reply? DM @trenchbookapp on X. A wallet's owner who proves control of it gets their reply printed.