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Axiom DEX

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Summary

Axiom is a Solana-based crypto trading platform founded in 2024 by Henry Zhang ('Mist') and Preston Ellis ('Cal'), which completed Y Combinator's Winter 2025 batch and generated over $390 million in cumulative revenue. In February 2026, blockchain investigator ZachXBT published a documented investigation revealing that a senior business development employee, Broox Bauer, along with colleagues, systematically abused internal dashboard tools with insufficient access controls to access private user wallet data and conduct insider trading for over 10 months beginning in early 2025. Axiom confirmed the breach, removed access to the implicated tools, and pledged an internal investigation, but no formal legal charges had been publicly filed as of the date of reporting.

Connected Entities

1 entities
Exchanges
Axiom DEX
Relationships
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Timeline(13 events)

2024

Axiom Exchange founded by Henry Zhang ('Mist') and Preston Ellis ('Cal').

ZachXBT on X

28 January 2025

Axiom launches to early access on Solana; Y Combinator Winter 2025 batch participant.

Y Combinator on X

February 2025

Alleged insider trading scheme begins; Broox Bauer starts accessing private user wallet data via internal dashboards with no apparent monitoring.

ZachXBT Investigation via PANews

April 2025

Broox Bauer posts a screenshot in private communications showing private wallet data of trader 'Jerry' obtained from Axiom's internal dashboard.

CoinDesk

6 June 2025

Axiom reaches $100 million in cumulative revenue, 129 days after launch.

The Block

August 2025

Second screenshot surfaces showing Bauer sharing registration and wallet data for trader 'Monix'; discussion of querying users who traded specific meme tokens.

CoinDesk

4 August 2025

Axiom reaches $200 million in cumulative revenue, setting a record for the fastest crypto application to reach that milestone.

Solana Floor

February 2026

Recorded call captures Broox Bauer detailing a plan to use colleague Gowno's internal Axiom access to generate $200,000 in profits.

ZachXBT Investigation via PANews

23 February 2026

ZachXBT publicly teases an impending insider trading exposé on social media without naming the company.

DL News

25 February 2026

Multiple wallets begin placing large bets on the Polymarket prediction market contract speculating on which company ZachXBT would name, with bets concentrated on Axiom.

CoinDesk

26 February 2026

ZachXBT publishes full investigation naming Broox Bauer and three colleagues at Axiom for alleged insider trading via unauthorized access to user wallet data spanning over 10 months.

CoinDesk

26 February 2026

Axiom co-founders issue statement saying they are 'shocked and disappointed,' confirm removal of access to implicated internal tools, and pledge an ongoing investigation.

DL News

27 February 2026

CoinDesk reports that at least 12 wallets placed coordinated Polymarket bets on Axiom before the investigation's publication, with combined profits exceeding $1 million; account 'predictorxyz' earned approximately $411,000.

CoinDesk
Provenance & Audit Trail

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 13 of 15 cited source URLs have an Internet Archive snapshot.

model: claude-sonnet-4-6

generated: 6/15/2026, 5:09:40 PM

last updated: 8/25/2026, 1:23:32 PM

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