Suspected inside traders betting on Axiom insider trading probe rake in $1 million: Lookonchain

Twelve wallets collectively made more than $1 million by betting on which crypto company onchain investigator ZachXBT would expose for insider trading on Thursday morning, according to blockchain analytics firm Lookonchain.

In a post on X, Lookonchain said the wallets placed nearly $400,000 in bets combined and generated roughly $1.42 million in returns, for a total profit of over $1 million.

The largest gain came from a wallet labeled “predictorxyz,” which turned roughly $65,800 into $477,176, a profit of more than $411,000. Several smaller wallets posted even higher percentage returns, including one that generated a 926% return on less than $5,000 wagered.

Inside Wallets — Addresses connected to suspected inside traders. Source: Lookonchain

ZachXBT ultimately identified Axiom as the company at the center of the alleged insider trading probe that was teased earlier this week.

In his exposé thread, ZachXBT said he was retained to “independently investigate alleged misconduct at Axiom” and had reached out to the company for comment prior to publishing his findings.

He alleged there were “little to no monitoring or access controls in place” to mitigate potential abuse and described unusually broad internal access to user wallet data, including visibility into transaction histories, linked accounts, and wallet nicknames.

One X user suggested the probe and interviews with Axiom employees might explain large Polymarket bets that appeared ahead of the disclosure. ZachXBT replied that he doubted Axiom’s co-founders traded on prediction markets but said it was “plausible friends connected to several of the people interviewed did.”

Lookonchain described the 12 addresses as “suspected insider wallets,” citing the timing and clustering of bets placed ahead of ZachXBT’s public disclosure. The firm did not publicly identify the individuals behind the wallets or provide direct evidence tying them to Axiom employees.