ZachXBT claims Axiom staff member engaged in insider trading

This assertion follows two days after trading firm Jane Street faced allegations of insider trading linked to the downfall of Terra in 2021.

(Clint Patterson/Unsplash)

Key Points:

• Blockchain investigator ZachXBT indicated that a senior employee at Axiom Exchange allegedly exploited internal resources to gain access to sensitive user information, track private wallets, and possibly trade memecoins based on privileged knowledge.
• Axiom expressed being “shocked and disappointed” regarding the allegations and has revoked access to those systems. The firm committed to ongoing investigations and to holding accountable those responsible.
• The allegations underscore increasing scrutiny over trading practices and data misuse within the cryptocurrency sector.

On Thursday, blockchain investigator ZachXBT reported that a senior staff member at the onchain trading platform Axiom Exchange allegedly misused internal access to user data to monitor private wallets and potentially engage in memecoin trading utilizing insider knowledge.

In a thread shared on X, ZachXBT mentioned that Broox Bauer, a senior business development employee based in New York, utilized internal dashboards to retrieve sensitive user data — such as linked wallet addresses — and disseminated that information to a select group that tracked trades of notable cryptocurrency influencers.

Axiom, established in 2024 by Mist and Cal and a participant in Y Combinator’s Winter 2025 cohort, has reportedly generated over $390 million in revenue thus far, according to ZachXBT.

ZachXBT disclosed that he was engaged to examine claims of the misuse of internal tools. He did not specify who hired him.

In audio segments shared in the thread, an individual purported to be Bauer allegedly states he can trace “any Axiom user” via referral code, wallet address, or UID and “discover anything related to that individual.” In the same recording, he mentions initially examining 10–20 wallets and progressively increasing activity “to avoid raising suspicion.”

Axiom did not respond to CoinDesk’s inquiry for comment. In a post on X, Axiom stated it was “shocked and disappointed” that a member of the team exploited internal customer support tools.

“We have revoked access to these tools and will pursue the investigation while holding the offending individuals accountable,” Axiom added. “This does not reflect our team values; we have consistently aimed to prioritize the user experience. Updates will be shared on our Twitter as we gather more information.”

The investigator alleged that Bauer shared screenshots in April and August 2025 revealing private wallet data linked to specific traders, including associated addresses and registration information. He also asserted that a group compiled wallet addresses for various crypto key opinion leaders (KOLs) in a Google Sheet using data obtained from Axiom’s internal dashboard.

Several individuals mentioned in the leaked documents independently verified the accuracy of the wallet details, according to ZachXBT.

The purported strategy centered on traders recognized for amassing substantial memecoin holdings from private wallets before publicly endorsing tokens. By identifying previously unknown wallets, the group could theoretically observe accumulation trends and position themselves ahead of expected price movements.

ZachXBT identified what he claimed to be Bauer’s main wallet and traced related addresses, noting that funds were transferred to several deposit addresses on centralized exchanges. However, he warned that without access to Axiom’s internal logs, it is challenging to establish definitive examples of insider trading based solely on onchain information.

The allegations emerged amid intensified examination of trading practices in the cryptocurrency market. Earlier this week, a widely followed Polymarket bet concerning the identity of the firm under investigation shifted dramatically toward Axiom, with the market generating in excess of $30 million in volume.

Solana-based liquidity platform Meteora was the leading candidate at around 43% odds earlier in the week, followed by Axiom, Pump.fun, Jupiter, and MEXC with lower probabilities.

By Thursday morning in Europe, those odds shifted, placing Axiom as the frontrunner at 35%, followed by Meteora at 26% and the ‘others’ category at 15%.

While prediction market odds reflect trader sentiment, they provide no verified insights into the underlying evidence or the outcome of the investigation.