A new investigation claims that employees of cryptocurrency trading platform Axiom abused internal tools to access users’ private data and profit from insider trading.
On February 26, blockchain investigator ZachXBT published a detailed report on X accusing Axiom Exchange staff of abusing internal dashboards to track private wallets and trade before users.
According to the report, one of the key people involved was Broox Bauer, known online as @WheresBroox, a senior business development employee based in New York. ZachXBT said Bauer had access to internal systems that allowed it to search for users by referral code, wallet address or user ID.
Internal tools allegedly used to track private wallets
Leaked recordings and screenshots reviewed by the investigator show Bauer explaining how he initially searched 10 to 20 wallets and gradually expanded to avoid detection. In one clip, he claimed he could “find out everything” about an Axiom user.
In another, he outlined the rules for requesting searches and offered to share full portfolio lists.
Screenshots from April and August 2025 allegedly showed internal dashboards displaying private wallet connections for traders identified as “Jerry” and “Monix.” Bauer also discussed tracking users who traded the AURA memecoin.
ZachXBT said the group compiled this information into Google Sheets, mapping wallet addresses linked to prominent traders and influencers. Several of those named reportedly confirmed that the data matched their private wallets.
One of the targeted traders, Marcell, was known for amassing large token reserves before promoting projects to his followers. Investigators said these traders made attractive targets because their private wallets were rarely public, making internal data particularly valuable.
On-chain analysis linked Bauer’s main wallet and associated addresses to major memecoin exchanges. The funds were traced to multiple centralized exchange depository wallets, although ZachXBT noted that exact confirmation of insider transactions would require Axiom’s internal logs.
The report also names other employees and associates, including Ryan (Ryucio), Gowno (Seb), and a moderator known as Mystery, as being involved in or aware of search activities.
Axiom was founded in 2024 and later joined Y Combinator’s Winter 2025 batch. ZachXBT said the company has generated more than $390 million in revenue to date.
Polymarket Punters Make Huge Profits
The investigation also sparked unusual activity on Polymarket, where users had previously placed bets on which company would be exposed. In the days leading up to the report’s release, the market had recorded volume of over $23 million.
Two wallets allegedly placed nearly $60,000 in bets on Axiom just hours before the reveal and won around $109,000, according to data shared by Lookonchain. “Insiders make money betting on insider trading – interesting,” Lookonchain remarked.
Another trader, “predictorxyz,” bet $65,800 when the odds were below 14% and went on to win more than $411,000. Some analysts have suggested that these transactions may have been based on non-public information.
Following the report, Axiom released a statement saying it was “shocked and disappointed” by the alleged misuse of internal tools. The company said it removed access to the systems involved and launched an internal investigation.
ZachXBT criticized Axiom for weak access controls, noting that business development staff could view full wallet history, nicknames and linked accounts. He added that the case could fall under the jurisdiction of the Southern District of New York because Bauer is based in New York.
It is not yet known whether criminal charges will follow. However, the report renewed concerns about employee surveillance, data security and internal risks within fast-growing crypto platforms.