Axiom Exchange, which operates on the Solana blockchain and is supported by Y Combinator, is under scrutiny for serious allegations regarding staff misconduct. Specifically, reports have surfaced that an employee used internal tools unlawfully to access private user wallet information, potentially enabling insider trading activities since early 2025.
An investigation by ZachXBT, a recognized on-chain investigator, unveiled that Broox Bauer, a senior business development staffer located in New York, plays a pivotal role in this situation. Evidence, including audio recordings, suggests Bauer showcased capabilities to track individual users utilizing reference codes, wallet addresses, or unique identifiers. These conversations indicate a deliberate strategy to gradually monitor an increasing number of wallets to evade detection.
The investigation revealed key evidence, including screenshots from internal dashboards from April and August 2025, which displayed data linked to traders known as “Jerry” and “Monix.” In these screenshots, wallet inquiries were associated with AURA, a meme coin. In a separate recording from February 2026, Bauer appears to propose a plan to assist a colleague in making $200,000 by exploiting access to privileged platform data.
Another significant discovery involved a spreadsheet cataloging wallet addresses of numerous cryptocurrency influencers, with affected individuals confirming the data's accuracy.
Axiom Exchange, founded in 2024 by Henry Zhang and Preston Ellis, successfully completed Y Combinator's Winter 2025 cohort and generated over $390 million in cumulative revenue, earning recognition as one of the leading decentralized exchanges by late 2025. Despite its accomplishments, the investigation highlights significant deficiencies in monitoring and access controls, allowing for such potential abuses within the platform. Internal permissions reportedly granted certain business development roles comprehensive access to wallet histories, tracked addresses, transaction records, and linked accounts.
This story is still evolving, and updates will follow as new information becomes available.