Blockchain investigator ZachXBT has alleged that a senior employee at Axiom Exchange improperly accessed confidential user data through internal dashboards, raising fresh concerns about potential insider trading in crypto markets.

In a detailed post on X published Thursday, ZachXBT claimed that Broox Bauer, a New York–based senior business development executive at Axiom, used internal tools to retrieve sensitive information, including linked wallet addresses and user identifiers. The data was allegedly shared with a small group that tracked the trading activity of prominent crypto influencers.

Axiom, founded in 2024 by Mist and Cal and backed by Y Combinator as part of its Winter 2025 cohort, has reportedly generated more than $390 million in revenue. ZachXBT said he had been engaged to examine claims of internal misuse but did not disclose who retained him.

Alleged Misuse of Internal Systems

Audio recordings shared in the thread purportedly feature Bauer claiming he could trace “any Axiom user” using referral codes, wallet addresses or unique IDs, and uncover related account details. In the same clip, the speaker allegedly describes gradually expanding wallet research to avoid appearing suspicious.

In response, Axiom said on X that it was “shocked and disappointed” by the alleged behavior. The company confirmed it had revoked access to the relevant internal customer support tools and launched an investigation, pledging to hold any responsible parties accountable. It did not respond to additional media inquiries.

ZachXBT further alleged that screenshots circulated in April and August 2025 showed private wallet data tied to specific traders, including connected addresses and registration details. According to the investigator, a group compiled wallet information for multiple crypto key opinion leaders (KOLs) in a shared spreadsheet using data sourced from Axiom’s internal dashboard.

Several individuals referenced in the leaked materials independently confirmed that the wallet information attributed to them was accurate, ZachXBT said.

Focus on Memecoin Positioning

The alleged effort centered on identifying traders who accumulated large memecoin holdings from undisclosed wallets before promoting tokens publicly. By uncovering those wallets, the group could theoretically monitor accumulation trends and position themselves ahead of anticipated price movements.

ZachXBT said he traced what he believes to be Bauer’s primary wallet and linked addresses, noting transfers to deposit addresses at centralized exchanges. However, he cautioned that without access to Axiom’s internal logs, blockchain data alone cannot conclusively establish insider trading.

Market Speculation Intensifies

The claims emerged amid broader scrutiny of trading practices in the crypto industry. A closely watched market on Polymarket, speculating on the identity of a firm under investigation, generated more than $30 million in volume this week.

Earlier, Solana-based liquidity platform Meteora had led the odds in the market. By Thursday morning in Europe, sentiment shifted, with Axiom becoming the frontrunner, followed by Meteora and an “others” category.

While prediction market odds reflect trader expectations, they do not provide verified evidence or determine the outcome of any formal inquiry.