Chainalysis sues US over $95M ICE contract with TRM Labs
The sealed complaint leaves Chainalysis’ specific objections and requested remedy undisclosed as briefing continues.
Blockchain analytics firm Chainalysis has initiated legal action against the United States government over a $94.6 million sole-source contract awarded to rival company TRM Labs. The dispute centers around Immigration and Customs Enforcement (ICE) choosing TRM Labs to provide forensic software and support services for Homeland Security Task Force investigations.
Chainalysis argues that the government's decision was "arbitrary, capricious, and unreasonable." Both companies offer blockchain analytics tools for tracing cryptocurrency transactions and investigating crimes. Chainalysis maintains that its detailed proposal for the contract was overlooked, and its confidential information remains under seal.
TRM Labs has entered the case in response. The court has set oral arguments for September 2, with a decision expected by September 10.
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