Blockchain investigator ZachXBT has alleged that a senior employee at onchain trading platform Axiom Exchange misused internal access to track private wallets and potentially trade memecoins using confidential information.
The claims, shared Thursday on X, center on Broox Bauer, a New York-based senior business development employee at the platform.
According to ZachXBT, Bauer allegedly used internal dashboards to access sensitive user data, including linked wallet addresses, and shared this information with a small group that mapped the trades of prominent crypto influencers.
Background on Axiom
Axiom was founded in 2024 by Mist and Cal and participated in Y Combinator’s Winter 2025 cohort. ZachXBT reports that the company has generated over $390 million in revenue to date. The investigator said he was retained to look into potential misuse of internal tools but did not disclose the client.
In response to the allegations, Axiom posted on X that it was “shocked and disappointed” by the reported misuse.
The company stated it had removed access to internal tools and was continuing to investigate the matter, committing to hold responsible parties accountable, and emphasized that the reported behavior does not reflect the team’s values and promised to share updates as the investigation progresses.
1/ Meet @WheresBroox (Broox Bauer), one of the multiple @AxiomExchange employees allegedly abusing the lack of access controls for internal tools to lookup sensitive user details to insider trade by tracking private wallet activity since early 2025. pic.twitter.com/KwICQMJL1q
— ZachXBT (@zachxbt) February 26, 2026
ZachXBT Statement.
Screenshots and recordings reportedly show Bauer describing how he initially tracked 10–20 wallets and gradually expanded activity “so it does not look that suspicious.”
Alleged Data Sharing and Tracking
ZachXBT shared that Bauer allegedly distributed screenshots in April and August 2025 showing private wallet information tied to specific traders, including connected addresses and registration details. The investigator claimed a group compiled wallet addresses for multiple crypto key opinion leaders into a Google Sheet, using data sourced from Axiom’s internal dashboards.
Several individuals named in the leaked material independently confirmed the accuracy of the wallet information.
The purported strategy targeted traders who had accumulated large positions in memecoins from private wallets before publicly promoting the tokens. By identifying these previously undisclosed wallets, the group could theoretically monitor accumulation patterns and position ahead of potential price movements. ZachXBT mapped what he identified as Bauer’s primary wallet and related addresses, noting fund flows to multiple centralized exchange deposit addresses.
He cautioned, however, that definitive proof of insider trading would require access to Axiom’s internal logs.
Market attention and context
The allegations have drawn attention from prediction markets. Earlier this week, a widely followed Polymarket bet on the identity of the firm under investigation showed Axiom as a trailing candidate, with Solana-based liquidity platform Meteora leading at 43% odds.
By Thursday morning European time, Axiom had risen to the frontrunner position at 35%, followed by Meteora at 26%, and the ‘others’ category at 15%. While these market odds indicate trader sentiment, they do not confirm evidence or predict the outcome of the investigation.
Alongside the news affecting individual platforms, recent price swings in bitcoin have sparked renewed scrutiny of market structure and trading behavior.
Bitcoin climbed nearly 7% on Wednesday, reaching highs above $68,000, following a stretch of volatility earlier in the week. The rally added more than $170 billion to the total cryptocurrency market capitalization, which rose to $2.4 trillion.
Some market participants noted a recurring pattern in which bitcoin had tended to decline during the first hour of U.S. equity trading since November 2025. Posts on social media linked this pattern to trading activity around the opening of the U.S. market, though no direct evidence has been presented connecting any individual firm to these movements.
The structure of U.S. spot bitcoin ETFs can create temporary windows where price discovery is muted.
Authorized participants, who manage the creation and redemption of ETF shares, may engage in in-kind transfers or futures hedging that affect spot demand, but these practices are legal and part of standard ETF operations. Analysts note that price movements in bitcoin during these periods often correlate closely with broader equity indices, suggesting broader market factors rather than coordinated selling.
Oleksii Shumak
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