The two biggest crypto-tracing firms are in court over a $94.66 million ICE deal

Chainalysis has asked a federal court to annul a ~$95 million award from Immigration and Customs Enforcement to its rival TRM Labs.

According to a recently unsealed complaint, ICE wrote the buying criteria around capabilities only TRM already had.

Three days and one page were all rivals got to respond

The $94.66 million contract is for a duration of one year, from July 1, 2026, to June 30, 2027. It covers forensic software and support for Homeland Security Task Force cases, including scams, cybercrime, and sextortion.

The federal award record lists $94,655,840 obligated and nothing paid out so far.

ICE put out a Request for Information (RFI) on May 28, with responses due June 2, and followed up with a Notice of Intent to sole source the work to TRM on June 8.

Companies that wanted to challenge that intent were given a separate Statement of Need and three days to respond, limited to one page.

Chainalysis Government Solutions, the vendor’s federal-facing subsidiary, says it filed its one-page statement on June 11 and was the only firm to do so.

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