A fresh controversy is shaking parts of the crypto industry after blockchain investigator ZachXBT published a detailed report accusing employees at Axiom Exchange of misusing internal tools for personal gain.
The investigation claims that certain staff members accessed private user data, tracked wallets, and may have engaged in insider trading. Adding another twist to the story, large bets placed on Polymarket before the report’s release have raised further questions about possible information leaks.
Allegations of Internal Tool Abuse
On Feb. 26, ZachXBT shared findings on X alleging that Axiom employees used internal dashboards to monitor private wallets.
According to the report, one of the central figures is Broox Bauer, known online as @WheresBroox, a senior business development employee based in New York. ZachXBT claims Bauer had access to tools that allowed him to search users by referral code, wallet address, or user ID.
Leaked screenshots and recorded conversations reportedly show discussions about researching 10 to 20 wallets initially, then gradually expanding activity to avoid detection. In one clip, Bauer allegedly claimed he could “find out anything” about an Axiom user.
Screenshots from April and August 2025 reportedly displayed internal dashboards mapping private wallet connections for traders identified as “Jerry” and “Monix.” The investigation also pointed to efforts to track traders involved in the memecoin AURA.
According to ZachXBT, the data was compiled into spreadsheets that linked wallet addresses to well-known traders and influencers. Some of the individuals named reportedly confirmed that the wallet data shown matched their private holdings.
On-Chain Clues and Trading Activity
The report also includes on-chain analysis connecting Bauer’s main wallet and related addresses to heavy memecoin trading activity.
Funds were traced to several centralized exchange deposit addresses. However, ZachXBT noted that confirming specific insider trades would require access to Axiom’s internal logs.
Other employees and associates — including individuals referred to as Ryan (Ryucio), Gowno (Seb), and a moderator known as Mystery — were mentioned as being involved in or aware of wallet lookup activities.
Axiom, founded in 2024 and later accepted into Y Combinator’s Winter 2025 batch, has reportedly generated more than $390 million in revenue to date.
Polymarket Bets Raise Red Flags
The controversy expanded beyond Axiom after unusual activity was detected on Polymarket.
Before the report became public, a prediction market was active where users could bet on which company would be exposed next. In the days leading up to the reveal, trading volume on the market exceeded $23 million.
Two wallets reportedly placed nearly $60,000 in bets on Axiom just hours before the report went live, generating profits of about $109,000. Another trader, operating under the name “predictorxyz,” wagered $65,800 when the odds were below 14% and later walked away with more than $411,000.
Blockchain analytics account Lookonchain commented on the situation, highlighting the irony of potential insiders profiting from a bet related to insider trading allegations.
Some market observers suggested that these trades may have relied on non-public information, though no formal conclusion has been reached.
Axiom Responds
Following the publication of the report, Axiom issued a statement saying it was “shocked and disappointed” by the alleged misuse of internal systems.
The company stated that it has revoked access to the tools in question and launched an internal investigation. It also pledged to review and strengthen its access control policies.
ZachXBT criticized the platform’s oversight structure, noting that business development employees allegedly had access to full wallet histories, linked accounts, and nicknames — information that could be highly sensitive in crypto markets.
He also pointed out that the case may fall under the jurisdiction of the Southern District of New York, as one of the alleged individuals is based in New York.
Broader Industry Concerns
The incident has reignited concerns about insider risk within fast-growing crypto companies.
As exchanges and trading platforms expand rapidly, internal access controls, employee monitoring, and data governance frameworks often struggle to keep pace. In markets where wallet activity is highly valuable intelligence, misuse of internal tools can create serious ethical and legal risks.
Whether criminal charges will follow remains unclear. For now, the industry is watching closely as Axiom conducts its investigation and regulators assess the situation.
