ZachXBT accuses Axiom staff of insider trading based on wallet data

Blockchain investigator ZachXBT has recently uncovered evidence that employees at Axiom, a popular cryptocurrency trading platform, have been engaged in insider trading using private wallet data. The alleged misconduct, which dates back to early 2025, involves Broox Bauer, a senior business development employee based in New York. Recordings reviewed by ZachXBT reveal disturbing details of how Bauer accessed users’ private wallet information and trade histories using internal tools.

In one recording, Bauer boasts about his ability to track any Axiom user via unique identifiers and private wallet addresses. He also describes a method of gradually increasing the number of wallets he monitored to avoid suspicion. Screenshots shared in the investigation show internal dashboards containing sensitive user information, including private wallets, linked accounts, and transaction histories. This data, according to sources, appeared to be accurate.

Allegedly, Axiom employees kept shared spreadsheets detailing wallets associated with well-known traders and memecoin promoters. In another recording, Bauer discusses a plan to help a colleague make $200,000 by providing them with a list of wallets. ZachXBT noted that there were little to no monitoring or access controls in place to prevent this abuse from occurring within Axiom.

The implications of these actions could potentially fall under the jurisdiction of the Southern District of New York, where Bauer is based. Axiom’s founders, Henry Zhang and Preston Ellis, known as Mist and Cal respectively, have not commented on the allegations. However, in a statement posted on X, Axiom expressed shock and disappointment over the misuse of internal tools by their team members and stated that they have taken steps to address the issue.

In response to the allegations, an individual claiming to be an Axiom affiliate under the pseudonym devininsider downplayed the accusations, stating that Axiom is simply a trading platform for memecoins and questioned the validity of the insider trading claims. Despite this, blockchain tracker Lookonchain highlighted suspicious trading activity involving Axiom on the prediction market Polymarket shortly before ZachXBT’s revelations.

It remains unclear how much profit, if any, was generated through the alleged insider trading scheme. Axiom has since restricted access to internal tools and announced plans to investigate and hold accountable any employees found to have engaged in misconduct. The incident serves as a cautionary tale for the cryptocurrency industry, highlighting the importance of robust monitoring and access controls to prevent unauthorized access to sensitive user data.