Chainalysis sues US over $95M ICE contract with TRM Labs

Blockchain analytics company Chainalysis has sued the United States government over an Immigration and Customs Enforcement (ICE) decision to award a sole-source contract to competitor TRM Labs. 

On July 27, Chainalysis Government Solutions filed the challenge in the US Court of Federal Claims. The relevant motion became publicly accessible through CourtListener’s RECAP archive on Sunday. 

A federal award notice values the contract at about $94.6 million and says it covers forensic software and support services for Homeland Security Task Force investigations. The one-year award runs from July 1, 2026, through June 30, 2027. 

Chainalysis alleged that ICE’s decision was “arbitrary, capricious, and unreasonable.” It said it had submitted a capability statement in response to ICE’s notice of intent to obtain forensic software and support services from TRM. 

Both companies provide blockchain analytics tools that government agencies use to trace cryptocurrency transactions and investigate crime. 

According to the motion, the complaint remains under seal because it contains Chainalysis’ confidential and proprietary information and trade secrets. The court granted Chainalysis permission to maintain the complaint under seal on July 31.