Prominent on-chain investigator ZachXBT released a report on Thursday accusing cryptocurrency trading platform Axiom of having an employee misuse internal customer support system privileges to secretly track user wallet information—potentially using that data for profitable trades. The report came after ZachXBT teased an upcoming insider trading exposé earlier in the week, sparking days of speculation in the crypto community.
Axiom: Founded in 2024, Revenue Exceeds $390M
Axiom was founded in 2024 by pseudonymous founders “Mist” and “Cal,” and was accepted into Y Combinator's Winter 2025 batch. The company has generated over $390 million in cumulative revenue to date.
Allegations: Senior Staffer 'Doxxed' User Wallets via Internal Tools
ZachXBT said he launched the investigation after receiving multiple whistleblower reports, declining to name the party that commissioned it. The report names Broox Bauer, Axiom's New York-based senior business development lead, who allegedly used internal customer support system access to view private wallet data—including wallet addresses and full transaction histories.
In an audio file cited by the investigation, Bauer claimed he could track any Axiom user via referral codes, wallet addresses, or user IDs. He described a process of “gradually” doxxing wallets, adding he would “take it slow so it doesn't look too suspicious.”
Although on-chain transactions are inherently transparent, ordinary market participants typically only see wallet addresses without knowing who controls them. When internal data links an address to a real user's identity and account details, “de-anonymization” becomes possible. Using that asymmetry to follow prominent traders, KOLs, or whale movements—and then trade ahead of them—constitutes insider trading. Examples include detecting a KOL's pre-pump buy-in before they publicly shill a token, or spotting a large holder's fund movement before a dump and exiting early.
Leaked KOL Wallet Lists, Plan to Make $200K
ZachXBT further alleged that Bauer leaked screenshots of Axiom's internal dashboard, exposing wallet addresses of specific traders and helping compile a “private wallet list of crypto KOLs.” Multiple victims whose wallet data was leaked have confirmed the accuracy of the leaked information, according to the report.
The report also claims that Bauer conspired with an accomplice to exploit “privileged access rights” for trading gains, devising a scheme to help another Axiom team member profit $200,000 through misuse of internal tools.
ZachXBT said he has identified Bauer's primary wallet and related addresses, but fully proving specific insider trades would require Axiom's internal logs.
Axiom Responds: “We Have Taken Action”
Axiom provided ZachXBT with a statement acknowledging the allegations and saying it has already taken measures. The company emphasized: “This does not represent the actions of our entire team. We always put users first. We will share updates on our official X account.”
ZachXBT noted that he contacted Axiom before publishing the report and described the firm's internal access controls as “relatively lax”—employees could easily view a large number of wallets and transaction data in the backend. He also pointed out that because the alleged misconduct took place in the United States, the case could fall under U.S. jurisdiction.
Prediction Market Frenzy: One Trader Made $39K on the Tip
Earlier in the week, when ZachXBT first hinted at an insider trading expose, a Polymarket contract asking “Which crypto company will ZachXBT expose for insider trading?” saw cumulative volume of $27.6 million, with bettors piling into Axiom, Meteora, Pump.fun, and others.
Meanwhile, on-chain analyst Lookonchain reported that an anonymous trader wagered over $50,000 on Axiom being named when odds were low, then closed the position within a day for a profit of $39,000.
ZachXBT earlier admitted on X that “leaks are inevitable” since the investigation required interviewing multiple individuals.
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