ZachXBT Alleges Axiom Employees Misused Internal Tools to Track User Wallets

Onchain investigator ZachXBT on Thursday published a detailed X thread alleging that certain employees at Axiom abused internal tools to access user wallet data and potentially engage in insider trading.

Axiom was founded in 2024 by Cal and Mist and later participated in Y Combinator’s Winter 2025 batch. ZachXBT wrote that the company generated more than $390 million in revenue to date and had become one of the more profitable firms in the sector.

ZachXBT said he was retained to independently investigate alleged misconduct at Axiom after receiving reports. He cited audio clips from a private group call in which Bauer allegedly stated he could track any Axiom user via referral code, wallet address or UID and claimed he could “find out anything to do with that person.” In the same recording, Bauer allegedly described gradually increasing the number of wallets reviewed, “so it does not look that suspicious.”

According to ZachXBT, a Google Sheet compiled by members of the group mapped wallet addresses gathered from internal dashboard data and targeted several key opinion leaders, or KOLs. He wrote that multiple KOLs named in leaked screenshots confirmed the accuracy of wallet data attributed to them.

In a February 2026 recorded call cited in the thread, Bauer allegedly outlined a plan to help a friend profit $200,000 by leveraging internal access. ZachXBT wrote that private chats included screenshots of exchange balances, suggesting prior gains.

ZachXBT said he contacted Axiom for comment prior to publication and attached the company’s response. Axiom stated:

“We are surprised and disappointed to hear that someone on our team abused internal customer support tools to look up user wallets. We have removed access to these tools and will continue to investigate and hold the offending parties responsible. This does not represent us as a team, we have always tried to put the user first. We’ll share updates on our Twitter as we learn more.”

ZachXBT added that, regardless of whether Axiom’s co-founders were aware, he believes monitoring and access controls appeared limited and called for further investigation. He also suggested the matter could fall under the jurisdiction of the U.S. Attorney’s Office for the Southern District of New York, though no charges have been announced.