3,4‐Bis(4‐amino‐1,2,5‐oxadiazol‐3‐yl)‐1,2,5‐furoxan (BAFF, 1) was nitrated in 100 % HNO3 at −10 °C and then reacted with KOH to give the corresponding energetic dipotassium salt of 3,4‐bis(4‐nitramino‐1,2,5‐oxadiazol‐3‐yl)‐1,2,5‐furoxan (2, K2BNAFF). The neutral nitramino‐furoxan compound (3, H2BNAFF) is unstable at room temperature and can be obtained from K2BNAFF with 2 m HCl and ether as H2BNAFF ⋅ 0.5 Et2O. Several nitrogen‐rich salts (e. g. ammonium, guanidinium, aminoguanidinium, hydrazinium and hydroxylammonium) were prepared from K2BNAFF. The potassium, guanidinium, aminoguanidinium, hydroxylammonium and silver salts of BNAFF were characterized by low‐temperature X‐ray diffraction. In addition, all compounds were analyzed by vibrational spectroscopy (IR and Raman), multinuclear (1H, 13C, 14N) NMR spectroscopy, differential thermal analysis (DTA) and elemental analysis. The heats of formation for the anhydrous compounds were calculated using the atomization method based on CBS‐4 M enthalpies. Several detonation parameters were predicted by using the EXPLO5 code (V6.03). In addition, the sensitivities of all BNAFF salts toward friction, impact and electrostatic discharge were determined.