ZachXBT’s ‘insider trading exposé’ targets Axiom… “Consider legal action”

On-chain analyst ZachXBT has been found to be pointing to Axiom, a Solana (SOL)-based cryptocurrency exchange, as the subject of a forthcoming insider-trading exposé.

On the 26th (local time), ZachXBT said on X that “the individual suspected of exploiting weak internal access controls to view sensitive user information and track non-public wallet activity for insider trading is Brooks Bauer, an Axiom employee in business development (BD).” ZachXBT had recently previewed that he would reveal insider trading tied to a specific crypto project on the day.

Axiom is a cryptocurrency exchange founded in 2024. It is reported to have generated $390 million in revenue from its launch through recently. ZachXBT said he initiated an investigation after receiving a tip related to Bauer’s alleged insider trading.

ZachXBT stressed that “Axiom appears to have had virtually no monitoring and access controls in place to prevent (Bauer’s) abuse.” He added that “it is unusual to grant someone in a BD role permissions to access, via internal dashboards, a full list of user wallets, date and time information, tracked wallets, transaction histories, linked accounts, and more.” He further said, “Regardless of whether criminal charges are pursued, I hope Axiom’s co-founders conduct further investigation into this matter and consider legal action against the employee involved.”