Blockchain investigator ZachXBT took to X on Thursday with a detailed thread alleging that a senior employee at onchain trading platform Axiom Exchange abused internal data access to track private user wallets and potentially trade memecoins on inside information.
The target is Broox Bauer, a New York-based senior business development employee at Axiom. According to ZachXBT, Bauer used internal dashboards to look up sensitive user data — including linked wallet addresses — and shared that information with a small group that mapped trades of prominent crypto influencers.
Axiom, founded in 2024 by Mist and Cal and part of Y Combinator's Winter 2025 cohort, has generated more than $390 million in revenue to date, per ZachXBT. He said he was hired to investigate allegations of misused internal tools but did not disclose who retained him.
In audio clips shared in the thread, a person identified as Bauer allegedly claimed he can track "any Axiom user" by referral code, wallet address or UID and "find out anything to do with that person." The same recording describes starting with 10–20 wallets and gradually ramping up activity "so it does not look that suspicious."
Axiom did not respond to CoinDesk's request for comment but posted on X that it was "shocked and disappointed" that someone on the team abused internal customer support tools. "We have removed access to these tools and will continue to investigate and hold the offending parties responsible," the firm wrote. "This does not represent us as a team, we have always tried to put the user first. We'll share updates as we learn more."
ZachXBT alleged Bauer shared screenshots in April and August 2025 showing private wallet data of specific traders, including connected addresses and registration details. He also claimed the group compiled wallet addresses for multiple crypto KOLs in a Google Sheet using data from Axiom's internal dashboard. Several individuals named in the leak independently confirmed the accuracy of the wallet information, according to ZachXBT.
The alleged strategy targeted traders known for accumulating large memecoin positions in private wallets before promoting tokens publicly. By identifying undisclosed wallets, the group could theoretically monitor accumulation patterns and position ahead of expected price moves.
ZachXBT identified what he said was Bauer's primary wallet and mapped related addresses, noting funds flowed to several deposit addresses on centralized exchanges. He cautioned, however, that without access to Axiom's internal logs, it is difficult to establish high-confidence examples of insider trading based solely on onchain data.
The case reignites debate over internal data security and insider trading risks in crypto trading platforms. Axiom's next steps — and the transparency of its internal investigation — will determine how far this scandal spreads.