I just came across a rather concerning investigation from ZachXBT about a scandal within Axiom. It turns out something very unhealthy was going on there.

According to the researcher, employees from the platform’s business development department, including Brooks Bauer from New York, systematically exploited vulnerabilities in internal systems. The scheme is simple, but brazen: they gained access to users’ confidential information, tracked the activity of private wallets, and then traded based on that information. Essentially, classic insider trading in a crypto format.

The most interesting part is the details. Bauer allegedly boasted that he could identify any Axiom user through referral codes, wallets, or UID. Starting from April of last year, he began sharing screenshots from private trading dashboards, and the whole group compiled lists of addresses for targeted influencers. Then they waited for those users’ trades and entered before them. A typical front-running operation—only using privileged access.

ZachXBT was able to identify Bauer’s main wallet and the related addresses in New York, which points to the involvement of other employees from the department. The records also mention platform moderators, who appear to have been involved in this story.

This is a serious blow to the platform’s reputation. When insiders use privileged access for personal gain, it undermines trust across the entire ecosystem. We’re waiting for an official response from Axiom and subsequent actions.