What leaked at Axiom

On June 13, 2024, blockchain investigator #zachxbt implicated Broox Bauer, a senior employee of Axiom Exchange, for exploiting access to the platform's internal tools.

Axiom Exchange, founded in early 2024 by Mist and Cal and integrated into the Winter 2025 cohort of Y Combinator, said it was 'shocked and disappointed' in a statement on X. The company claims to have revoked access to the relevant tools and is conducting its internal investigation. Several traders mentioned in the revealed documents confirmed the accuracy of the information regarding their portfolios, which strengthens the credibility of the accusations made against Bauer.

Bet of 1 million on Polymarket

In parallel with this internal affair, the prediction market #Polymarket captured the attention of the crypto sector from the beginning of the week. A speculative contract allowed users to bet on the identity of the company that ZachXBT would expose for insider trading. This market generated nearly $40 million in volume between Monday and Thursday morning, a sign of unprecedented enthusiasm for this type of event.

#Lookonchain identified twelve wallets that massively bet on Axiom before the official publication, collectively generating over one million dollars in profits.


The wallet predictorxyz bought exactly 477415 shares of the 'Yes' contract at an average price of $0.14, realizing a profit of $411,000.

The main holder of the 'Yes' contract on Axiom, known by the pseudonym predictorxyz, accumulated 477415 shares at an average price of $0.14 each. His gain exceeds $411,000 after the public revelation. The second-largest winner remained anonymous but bought over 109,000 shares at a much higher average cost ($0.33), illustrating a calculated risk taken just before the confirmation of the scandal.

The backstory of the suspicious trade

The timeline suggests that some actors had privileged information even before the official announcement. For most of the week leading up to ZachXBT's report, Meteora was considered the favorite on Polymarket with a probability above 50%. This sudden shift in favor of Axiom occurred while several anonymous wallets were betting heavily on this specific choice.

Polysights reports that five wallets invested around $50,000 each and collectively pocketed over $266,000 afterward. These coordinated movements raise questions: how could these users anticipate the outcome when ZachXBT claims to have contacted Axiom to verify information and conducted several interviews beforehand? The blockchain investigator himself admits that a leak was 'probably inevitable' given the number of interlocutors involved in his approach.

Insiders trapped by their own bet

The irony is that the Polymarket contract in question was specifically designed to speculate on a matter... of insider trading. However, according to coindesk.com, several users seem to have taken advantage of non-public information to rake in spectacular gains - some exceeding hundreds of thousands of dollars in just a few hours. Nearly ten million dollars circulated on the contract 'Which crypto company will ZachXBT expose for insider trading?' before any official announcement.

In light of these growing suspicions, Michael Selig, acting chairman of the CFTC (Commodity Futures Trading Commission), reminded this week of the exclusive competence of the American regulator over predictive markets like Polymarket or Kalshi. The question remains open regarding potential consequences: no sanctions have been announced at this stage, but regulatory scrutiny is intensifying around platforms that mix decentralized finance and event betting.

Why it matters

The Axiom case concretely illustrates the risks associated with the uncontrolled circulation of sensitive information within crypto platforms: in just a few days, a secondary market can move several million due to a targeted leak. The profits made by a few insiders - over one million cumulatively according to on-chain analyses - highlight both the effectiveness and the potential flaws of blockchain tools meant to ensure transparency and fairness.

The final word

  • On June 13, 2024, ZachXBT accused Broox Bauer, senior employee of Axiom Exchange, of abusing internal tools for insider trading.

  • On Polymarket, 12 wallets massively bet on Axiom before the revelation, collectively generating over $1 million in profits.

  • The wallet predictorxyz bought 477415 shares at $0.14 on Polymarket, realizing a profit of $411,000.

Signals still awaited

Axiom announced it has revoked access to the relevant internal tools and is continuing its investigation, but no official sanction against Broox Bauer or other employees has yet been confirmed; if disciplinary measures or prosecutions are announced, they may follow the publication of the internal investigation results, the date of which remains uncertain.