ZachXBT accuses Axiom of abusing wallet data, suspected of a surge in insider trading

Blockchain investigator ZachXBT on Thursday released a report naming the crypto trading platform Axiom, accusing company employees of abusing internal tools to access and monitor users’ private wallet data, after days of market speculation about an insider trading expose.

According to the report, Axiom was founded by “Mist” and “Cal” in 2024, and is part of Y Combinator’s Winter 2025 batch. The platform quickly became one of the most profitable companies in the field, with total revenue reportedly exceeding $390 million to date. ZachXBT said he was hired to conduct an independent investigation after receiving multiple reports of misconduct within the company.

The report alleges that a senior business development staff member known as “Broox,” based in New York, used internal customer support tools to access private wallet data related to Axiom users. According to audio recordings cited, this individual claimed he could track any user via referral code, wallet address, or account ID, and described the data lookup process as “step-by-step to avoid suspicion.”

ZachXBT also claims that Broox shared screenshots from Axiom’s internal dashboard showing wallet addresses linked to specific traders, and helped compile private wallet lists of several influential figures in the crypto space. Some individuals whose data appeared in leaked images confirmed the accuracy of the information related to them.

The report further accuses Broox and colleagues of discussing plans to exploit privileged data access for profit, including proposing to help another team member at Axiom make $200,000 by abusing internal tools. ZachXBT said he identified Broox’s main wallet and related addresses but noted that verifying specific insider transactions would require access to Axiom’s internal system logs.

Axiom later acknowledged the allegations and said it has taken corrective measures. In a statement sent to ZachXBT, the company said they were “surprised and disappointed” that a member had abused support tools to look up user wallets, and that they have revoked access to these tools and are continuing to investigate to hold responsible parties accountable. The company emphasized that such behavior “does not represent the team” and pledged to update on Twitter as more details emerge.

ZachXBT said he contacted Axiom before publishing the report, and described the company’s internal access controls as “too lax,” allowing employees to view wallet data and transaction history at an unusually broad level. He also noted that the incident could fall under U.S. legal jurisdiction due to the location of the involved individuals.

Market activity predictions

Before the report was published, a prediction contract on the Polymarket platform titled “Which crypto company will ZachXBT expose for insider trading?” attracted about $27.6 million in trading volume. Participants bet on several names, including Axiom, Meteora, Pump.fun, and others.

Onchain analytics firm Lookonchain reported that 12 wallets collectively wagered nearly $400,000 and made about $1.42 million, a profit of over $1 million, by correctly predicting Axiom as the subject of the report. The wallet labeled “predictorxyz” recorded the largest profit, turning $65,800 into $477,176, a gain of over $411,000. Several smaller wallets achieved returns of up to 926% with less than $5,000 in capital.

Lookonchain described these 12 addresses as “suspected insider trading wallets,” based on the timing and manner of their bets before the information was publicly disclosed. However, the analysis firm did not reveal the owners’ identities or provide direct evidence linking them to Axiom employees.

On X, ZachXBT acknowledged that interviewing some individuals during the investigation could lead to information leaks. When asked whether Axiom’s leadership team had bet on Polymarket, he said it’s unlikely, but suggested that “friends of those being interviewed” could have participated.