The crypto world is abuzz once again as renowned on-chain detective ZachXBT has unveiled his latest investigation, pointing fingers at the cryptocurrency trading platform Axiom. In a report published Thursday, ZachXBT formally accused Axiom employees of allegedly misusing internal tools to covertly track user wallets. The bombshell report further suggests that this confidential information may have been leveraged for personal gain, enabling employees to profit from crypto trading. This revelation follows days of intense speculation within the crypto community after ZachXBT hinted at an impending insider trading exposé.

Founded in 2024 by pseudonymous figures “Mist” and “Cal,” Axiom quickly gained traction, securing a spot in Silicon Valley’s prestigious Y Combinator Winter 2025 batch. The platform boasts impressive cumulative revenues exceeding $390 million to date.

ZachXBT confirmed that his investigation into the alleged abuse of Axiom’s internal tools was initiated after receiving multiple tips, though he refrained from disclosing the identity of the whistleblowers.

The Core Allegations: De-anonymizing Wallets for Profit

At the heart of ZachXBT’s report are serious accusations against Broox Bauer, a New York-based Senior Business Development Executive at Axiom. Bauer is alleged to have exploited permissions within Axiom’s internal customer service system to access sensitive private wallet data belonging to users, including wallet addresses and comprehensive transaction histories. The investigation cites an audio recording where Bauer purportedly claimed the ability to track any Axiom user via referral codes, wallet addresses, or user IDs. He reportedly detailed a “gradual” process of “doxxing” these wallets, mentioning a strategy to “investigate slowly so it doesn’t look too suspicious.”

While blockchain transactions are inherently public and traceable, typically only wallet addresses are visible to the general market, preserving user anonymity. However, ZachXBT’s findings suggest that by linking these addresses to real user identities and account details through internal company data, Axiom employees could effectively “de-anonymize” users. This capability opens the door to significant information asymmetry, enabling potential insider trading by:

• Front-running trades: Identifying tokens purchased by prominent crypto KOLs or whale investors before their public endorsements, allowing early position-taking.
• Pre-emptive exits: Anticipating large sell-offs or significant fund movements by major holders, enabling quick exits to mitigate potential losses.

Evidence of Misconduct: Leaked Data and Profit Schemes

ZachXBT’s investigation delved deeper, revealing allegations that Broox Bauer not only leaked screenshots of Axiom’s internal dashboard, exposing specific traders’ wallet addresses, but also actively assisted in compiling a “private wallet list of crypto KOLs.” ZachXBT emphasized that multiple victims whose wallet data was compromised have independently verified the accuracy of this leaked information.

Further compounding the allegations, ZachXBT reported that Bauer allegedly conspired with accomplices to strategize how to leverage their “privileged access” for trading profits. This included planning a scheme to help another Axiom team member net $200,000 through the illicit use of internal tools.

While ZachXBT has identified Bauer’s primary wallet and associated addresses, he acknowledged that definitive confirmation of specific insider trading activities linked to these wallets would require access to Axiom’s internal log records.

Axiom’s Response: Swift Action and Ongoing Investigation

In response to the allegations, Axiom provided a statement to ZachXBT, acknowledging the claims and outlining immediate measures taken. The company expressed its shock and disappointment:

“We are shocked and disappointed that someone on our team would abuse internal customer service tools to snoop on user wallets. We have revoked access to these tools and will continue to investigate and hold those responsible accountable.”

Axiom further asserted that these actions do not reflect the values of the broader team, emphasizing their commitment to a “user-first” principle. The company promised to provide further updates on its official X (formerly Twitter) account.

ZachXBT noted that he had engaged with Axiom prior to publishing his report, describing the company’s internal permission controls as “relatively loose,” allowing employees easy access to extensive wallet and transaction data. He also highlighted that the involvement of a U.S.-based employee could bring the case under U.S. judicial oversight.

The Polymarket Side Story: A Mysterious Pre-Leak Profit

Adding another layer of intrigue, ZachXBT’s initial teaser about an upcoming insider trading exposé triggered a massive speculative surge on prediction markets. The Polymarket contract, “Which crypto company will ZachXBT expose for insider trading?“, saw an astounding $27.6 million in trading volume, with traders frantically betting on platforms like Axiom, Meteora, and Pump.fun.

On-chain analysts, including Lookonchain, detected an unusual trading pattern: an anonymous trader placed a wager of over $50,000 on Axiom being named, despite the low odds. This position was then closed within a single day, yielding a profit of $39,000. ZachXBT himself had previously admitted on X that information leakage was “unavoidable” due to the necessity of interviewing multiple individuals during his investigation.