A fresh controversy is shaking the crypto industry after blockchain investigator ZachXBT accused employees at trading platform Axiom Exchange of misusing internal tools to monitor private user activity and potentially profit from insider trading. The allegations, shared publicly on Feb. 26, have sparked debate around data privacy, employee oversight, and transparency within rapidly growing crypto companies.
Investigation claims misuse of internal access
In a detailed post published on X, ZachXBT outlined how certain Axiom staff allegedly accessed internal dashboards designed for operational purposes but instead used them to track user wallets. According to the report, employees could search accounts using referral codes, wallet addresses, or user IDs — tools that reportedly revealed sensitive trading information.
One individual highlighted in the investigation is Broox Bauer, known online as @WheresBroox, a senior business development employee based in New York. Leaked recordings and screenshots reviewed by the investigator allegedly show Bauer discussing methods used to research wallets while attempting to avoid detection. In one recording, he claimed he could discover nearly any information about an Axiom user through internal systems.
Screenshots dated April and August 2025 reportedly displayed dashboards linking private wallets to specific traders, including users identified as “Jerry” and “Monix.” The investigation also suggested that wallets connected to traders active in the memecoin AURA ecosystem were tracked and documented.
Wallet tracking and memecoin activity
The report claims collected wallet data was organized into shared spreadsheets, mapping addresses linked to well-known traders and influencers. Some individuals named in the investigation reportedly confirmed that the tracked wallets matched their private holdings.
One trader, Marcell, was allegedly monitored because of a strategy involving large token accumulation before promoting projects publicly — behavior that could create profitable trading opportunities for anyone with advance knowledge.
On-chain analysis connected wallets tied to Bauer with significant memecoin trading activity. Funds were traced to several centralized exchange deposit addresses, though ZachXBT noted that proving insider trading definitively would require access to Axiom’s internal logs.
The report also referenced other individuals — Ryan (Ryucio), Gowno (Seb), and a moderator known as Mystery — as being either involved in or aware of wallet lookup activity.
Founded in 2024, Axiom later joined Y Combinator’s Winter 2025 batch and has reportedly generated more than $390 million in revenue so far.
Polymarket bets raise new questions
The controversy extended beyond trading platforms to prediction market Polymarket, where users had been betting on which crypto company might face exposure. Trading volume exceeded $23 million shortly before the report went live.
Blockchain analytics firm Lookonchain reported that two wallets placed nearly $60,000 worth of bets on Axiom just hours before the allegations became public, earning roughly $109,000. Another trader, known as “predictorxyz,” reportedly wagered $65,800 when odds were below 14% and later walked away with more than $411,000 in profits.
The timing of these bets has led analysts to question whether some participants may have had access to non-public information.
Company response and ongoing concerns
Following the allegations, Axiom said it was “shocked and disappointed” by the reported misuse of internal systems. The company stated that access to the tools in question has been revoked and that an internal investigation is now underway.
ZachXBT criticized what he described as weak access controls, noting that business development employees allegedly had visibility into wallet histories, account nicknames, and linked profiles. Because Bauer is based in New York, the case could potentially fall under the jurisdiction of the Southern District of New York, though no legal action has been confirmed.
While it remains unclear whether criminal charges will follow, the situation has reignited industry-wide discussions about insider risks, employee permissions, and data protection standards across crypto platforms — issues that continue to grow alongside the sector itself.
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