Recordings and screenshots reviewed by the blockchain investigator show internal tools that surfaced users’ private wallets and trade histories.
Blockchain sleuth ZachXBT has accused employees at crypto trading platform Axiom of abusing internal tools to spy on users and trade using private wallet data, according to a detailed investigation posted on X today.
The alleged activity dates back to early 2025 and involves a senior business development employee based in New York.
According to ZachXBT, the employee, Broox Bauer, is heard on recordings claiming he could track “any Axiom user via ref code, wallet, or UID” and could “find out anything to do with that person.” In one clip cited by ZachXBT, Bauer also describes gradually increasing the number of wallets he monitored “so it does not look that suspicious.”
Fees generated by Axiom. Source: Token TerminalAxiom was founded by Henry Zhang — also known as Mist — and Preston Ellis — also known as Cal — in 2024 and later went through Y Combinator before quickly becoming one of the most profitable crypto platforms. The web-based trading terminal pulled in tens of millions of dollars in fees just months after launching in late January 2025, The Defiant reported earlier.
‘No Monitoring or Access Controls’
Screenshots shared in the X thread also show internal dashboards listing users’ private wallets, linked accounts, and transaction history, data that sources contacted by ZachXBT said appeared accurate.
The group also allegedly maintained shared spreadsheets mapping wallets tied to well-known traders and memecoin promoters. In another recording, Bauer lays out a plan to help a colleague make $200,000 by abusing this access, saying he would send over “the full list of wallets.”
“Regardless of whether Cal or Mist were aware, there was little to no monitoring or access controls in place to mitigate this abuse from happening in the first place,” ZachXBT wrote.
Because Bauer is based in New York, he added that the case could fall under the Southern District of New York, even if no criminal charges are ultimately filed.
It’s unclear, however, how much profit, if any, was made using the alleged insider information.
‘Shocked and Disappointed’
As the details came out, Axiom said in an X post, “We are shocked and disappointed to hear that someone on our team abused internal customer support tools to look up user wallets.” The company added that it “removed access to these tools and will continue to investigate and hold the offending parties responsible.”
Days before ZachXBT publicly named the firm, an alleged Axiom affiliate using the alias devininsider was already pushing back on speculation around Axiom. “We are simply a terminal that allows people to trade open market memecoins, what could we be possibly insider trading lol,” they said.
Blockchain tracker Lookonchain noted in an X post that just hours before ZachXBT named Axiom as the company accused of insider trading, two new anonymous wallets bet $59,800 on Axiom on Polymarket, and within three hours, turned it into $109,000.
Source: https://thedefiant.io/news/defi/zachxbt-accuses-axiom-staff-of-insider-trading-using-wallet-data
