Blockchain analytics firm Chainalysis is accusing U.S. Immigration and Customs Enforcement (ICE) of tailoring a nearly $95 million sole-source contract to rival TRM Labs, alleging in a newly public complaint that the agency judged Chainalysis against requirements ICE had not disclosed in the document the firm was instructed to address.
A redacted version of the complaint was filed publicly Friday in the U.S. Court of Federal Claims, after a sealed version was originally filed on July 27. Chainalysis Government Solutions (CGS), a wholly owned subsidiary of Chainalysis focused on U.S. government customers, alleges ICE improperly relied on criteria from an earlier Request for Information rather than the subsequent Statement of Need provided to TRM's rivals for the sole-source award. It further alleges several of those criteria closely tracked TRM's existing products and commercial relationships.
ICE awarded TRM a $94.66 million sole-source contract to provide forensic software and support services for Homeland Security Task Force investigations. The award has a period of performance from July 1, 2026, through June 30, 2027, according to federal contract records. Chainalysis describes the deal in its complaint as the largest blockchain analytics contract ever awarded by the U.S. government, and a review of federal blockchain contracts by The Block could find no larger counter-example.
