I just read ZachXBT’s investigation about Axiom Exchange, and it’s quite a serious story involving insider trading. Apparently, a senior platform employee allegedly used privileged access to track users’ private wallets and trade based on insider information about meme coins.

What’s the gist: the investigator claims that Brooks Bauer from Axiom could both find the index by a wallet address and obtain all information related to it through internal management panels. He allegedly collected data on the wallets of well-known crypto influencers in Google Sheets, tracking their meme coin holdings before the tokens were publicly promoted. The strategy was simple: identify early positions of known traders, and then take a position himself before the expected price increase.

In the audio recordings published by ZachXBT, the alleged Bauer says he can track any Axiom user by referral code, wallet address, or UID and obtain any related information. He allegedly started with 10–20 wallets, then gradually increased activity so it wouldn’t look suspicious.

Axiom responded quickly: it said it was shocked by what happened, disabled access to support tools, and promises to conduct an investigation. But ZachXBT honestly admits that without access to the platform’s internal logs, it’s hard to prove insider trading with 100% certainty based only on blockchain data.

What’s interesting: on Polymarket, the bets on who is involved in the investigation shifted sharply toward Axiom. At the beginning of the week, the favorite was the Solana-based platform Meteora with a 43% probability, but by Thursday, Axiom had moved into first place with 35%. Although the odds in prediction markets reflect traders’ opinions rather than real evidence.

This story shows how seriously data security in the crypto industry needs to be taken. If a platform can so easily disclose information about users’ wallets, that’s a huge risk. By the way, amid this scandal, XRP is moving in an interesting direction. According to the latest data, the price is holding at $1.36, down 0.36% over the day, with a trading volume of $43.97 million. The integration of XRP into the Rakuten payment app for 44 million users, with the ability to spend and earn through bonus points, looks like a real step toward mass adoption. But for now, XRP remains in a broader downward trend and has not confirmed a sustained reversal upward, despite whale accumulation and high volumes.