TLDR
- Twelve wallets reportedly earned over $1M from prediction bets.
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Largest wallet turned $65K into $477K within hours.
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ZachXBT named Axiom in alleged insider trading probe.
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Axiom says it removed employee access and is investigating.
Blockchain analytics firm Lookonchain reported that 12 wallets made more than $1 million by betting on which crypto company would be named in an insider trading investigation. The profits came shortly before onchain investigator ZachXBT identified Axiom as the company under review.
The activity centered on a Polymarket contract asking which crypto firm ZachXBT would expose. The market generated tens of millions in trading volume ahead of the disclosure.
Prediction Market Bets Draw Scrutiny
According to Lookonchain, the 12 wallets placed nearly $400,000 in combined wagers and generated approximately $1.42 million in returns. That resulted in profits exceeding $1 million within a short period.
The most profitable wallet, labeled predictorxyz, reportedly turned about $65,800 into $477,176. Several smaller wallets posted returns above 900 percent on modest wagers.
Lookonchain described the addresses as “suspected insider wallets,” citing the timing and clustering of bets placed before the public announcement. The firm did not identify the individuals behind the wallets or provide direct evidence linking them to Axiom employees.
We found that many insiders made big profits by betting on which crypto company @zachxbt would expose for insider trading.
Here are 12 suspected insider wallets we identified.
Together, they made a total profit of $1.02M!
Wallets:
0x1d9af60c679cd0b577c3c4ccb4b1a4be4174426d… pic.twitter.com/M5WXqewSUL— Lookonchain (@lookonchain) February 26, 2026
Earlier in the week, ZachXBT acknowledged that leaks were possible because several people had been interviewed during the investigation. He later said it was plausible that individuals connected to interviewees could have traded on prediction markets.
ZachXBT Names Axiom in Insider Probe
ZachXBT published an investigation naming crypto trading platform Axiom as the focus of alleged insider misconduct. He stated that he was retained to independently investigate reports of internal abuse at the firm.
In the exposé thread, he alleged that certain employees used internal customer support tools to access private wallet data. The report described what he called “little to no monitoring or access controls” during the period under review.
The investigation cited recordings and screenshots that allegedly showed access to wallet addresses, transaction histories, and linked accounts. Several individuals whose wallet data appeared in screenshots reportedly confirmed the accuracy of the information attributed to them.
ZachXBT also claimed that discussions took place about using privileged access to profit from trades. He noted that confirming specific insider transactions would require access to Axiom’s internal logs.
Axiom Responds and Removes Tool Access
Axiom responded to the allegations in a statement provided to ZachXBT. The company said it was “surprised and disappointed” by the reported conduct.
“We have removed access to these tools and will continue to investigate and hold the offending parties responsible,” the company said. It added that the conduct described did not reflect its broader team.
We are shocked 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…
— Axiom (@AxiomExchange) February 26, 2026
Axiom was founded in 2024 and participated in Y Combinator’s Winter 2025 batch. According to ZachXBT, the platform has generated more than $390 million in revenue to date.
The Polymarket contract tied to the investigation reportedly saw about $27.6 million in trading volume. Onchain analysts noted that at least one trader wagered over $50,000 on Axiom while odds were lower and exited with a profit.
Lookonchain said the timing of the wagers raised questions, though it did not provide definitive proof of insider coordination. The situation has intensified debate around prediction markets and information asymmetry in crypto ecosystems.
