Chainalysis challenges a sole-source $94.6 million Homeland Security deal awarded to competitor TRM Labs without competitive bidding.
Chainalysis has filed a lawsuit against the U.S. government over a $94.6 million contract awarded to rival TRM Labs for blockchain forensic services. The contract, covering July 1, 2026, to June 30, 2027, supports Homeland Security investigations into cybercrime and scams.
The dispute centers on the Immigration and Customs Enforcement agency’s decision to bypass an open bidding process. Chainalysis argues the sole-source award was arbitrary, claiming it had signaled interest in providing the services. TRM Labs has joined the case to defend the contract.
Oral arguments are scheduled for September 2, with a decision requested by September 10. The court has sealed Chainalysis’s complaint, citing confidential business information.