Chainalysis, a blockchain analytics company, has filed a lawsuit against the US government over a sole-source contract worth approximately $94.6 million awarded by US Immigration and Customs Enforcement, or ICE, to rival TRM Labs. Chainalysis Government Solutions filed its protest with the US Court of Federal Claims on July 27, arguing that ICE's decision was irrational and lacked a reasonable basis. The one-year contract covers forensic software and support services for Homeland Security Investigations and runs from July 1, 2026, to June 30, 2027. The complaint remains under seal because it contains confidential information and trade secrets belonging to Chainalysis, and the court allowed the filing to remain sealed on July 31. TRM Labs intervened in the case on July 28, and the court has scheduled oral argument for September 2, while the government has requested a decision by September 10.
Chainalysis sues over contract awarded to rival TRM Labs, losing business.
TRM Labs wins $94.6M contract, beating Chainalysis.
