Chainalysis is suing the US government after ICE handed a sole-source, roughly $95M blockchain-forensics contract to rival TRM Labs without open competition.

Chainalysis Government Solutions filed the bid protest on July 27 in the US Court of Federal Claims, arguing ICE's decision to skip competition was "arbitrary, capricious, and unreasonable." It says it submitted a capability statement showing it could provide the same forensic software and support that ICE sought to buy solely from TRM. The complaint itself remains under seal because it contains Chainalysis' proprietary information and trade secrets. The court has scheduled responses from the government and TRM this week, with oral argument set for September 2.

The one-year award, valued near $94.6M, covers forensic tools and support for Homeland Security Task Force investigations and runs from July 2026 through June 2027, making it one of the larger government blockchain-analytics deals to land in a courtroom fight between the sector's two biggest firms.

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