Blockchain forensics firm Chainalysis files legal protest over sole-source $94.6 million ICE deal granted to rival TRM Labs.
Chainalysis Government Solutions filed a bid protest on July 27 against a $94.6 million sole-source contract awarded to TRM Labs by U.S. Immigration and Customs Enforcement. The contract, running from July 1, 2026, to June 30, 2027, covers blockchain forensic software and support for Homeland Security investigations.
ICE justified the award after a six-day market research period, claiming none of the eight responding firms matched TRM Labs’ capabilities. Chainalysis argues the decision was arbitrary, noting it submitted a capability statement after ICE signaled intent to use a single provider.
TRM Labs intervened on July 28 to defend the award alongside the government. The core of Chainalysis’s complaint remains under seal to protect trade secrets.