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Chainalysis Challenges ICE’s $94.6 Million Award to TRM Labs
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News EditorChainalysis Government Solutions filed a procurement protest with the U.S. Court of Federal Claims on July 27, objecting to a sole-source award by U.S. Immigration and Customs Enforcement (ICE) to rival TRM Labs. The contract is valued at about $94.6 million and runs from July 1, 2026, to June 30, 2027. It covers blockchain forensics software and support services for Homeland Security task force investigations into fraud, cybercrime and sextortion. The court allowed Chainalysis to keep the complaint temporarily sealed, and oral arguments are set for Sept. 2. TRM Labs joined the case as an intervenor-defendant on July 28, while ICE said a roughly six-day market survey found all eight responding firms failed to meet requirements.
Chainalysis Government Solutions filed a procurement protest on July 27 in the U.S. Court of Federal Claims, challenging U.S. Immigration and Customs Enforcement’s decision to award a sole-source contract worth about $94.6 million to rival TRM Labs.
The contract runs from July 1, 2026, to June 30, 2027, and covers blockchain forensics software and support services used by Homeland Security task forces to investigate fraud, cybercrime and sextortion.
Chainalysis said ICE’s decision was arbitrary and unreasonable.
TRM Labs entered the case on July 28 as an intervenor-defendant and is defending the award alongside the U.S. government.
The court allowed Chainalysis to keep the complaint under seal for now. Oral arguments are scheduled for Sept. 2.
ICE said it concluded, after a market survey lasting about six days, that all eight responding firms were unable to meet its requirements.
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