Serious allegations have surfaced against crypto exchange Axiom, with blockchain sleuth ZachXBT accusing New York-based senior business development employee Broox Bauer of exploiting internal dashboards to track private user wallets for potential insider trading.
Founded in 2024 by Mist and Cal, Axiom experienced explosive growth after participating in Y-Combinator's Winter 2025 batch, generating over $390 million in revenue. However, the lack of access controls on sensitive internal tools reportedly allowed Bauer and associates to misuse privileged data.
Unchecked Permissions Exposed Private Wallets
According to ZachXBT, Bauer could track any Axiom user via referral code, wallet address, or UID, claiming he could "find out anything to do with that person." The practice allegedly began in early 2025, targeting meme coin traders and holders of private assets. Bauer started with 10–20 wallets and gradually expanded to avoid detection. Screenshots from the internal dashboard showed private wallets of traders named Jerry and Monix, highlighting the depth of access Bauer maintained.
Coordinated Scheme to Profit from Insider Data
The investigation revealed a coordinated effort: Bauer compiled wallet addresses in Google Sheets, mapping KOLs' private accounts. Targets included trader Marcell, who buys large token portions from private wallets before promoting them to followers—making him an ideal candidate for front-running. Bauer allegedly involved associate Gowno (Seb) and discussed plans to help him profit $200K by misusing internal access. ZachXBT noted the case "presents itself as a good opportunity for SDNY" given Bauer's New York location.
Further tracing of Bauer's main wallet and related addresses showed high-volume meme coin trades and CEX deposits. However, pinpointing insider trades would require internal logs from Axiom. The exchange acknowledged that employees had unusually broad data access, including complete wallet lists, transaction histories, and linked accounts.
Industry-Wide Security Gaps Exposed
This incident underscores the poor internal controls at some fast-growing exchanges. Axiom clearly failed to scale its security measures alongside its user base. The community now demands a thorough internal investigation and stricter monitoring of sensitive tools. For users, the episode serves as a stark reminder of the risks associated with opaque centralized platforms.