London System is falling down?

The London System (1.d4 2.Bf4 or 2.Nf3 3.Bf4) is another off-beat opening that is starting to appear more and more at top level chess. It's use may be more of a surprise weapon than an attempt to build it into a fully effective opening system, but the fact that Carlsen used it to beat Tomashevsky at Tata Steel does give it a stamp of approval.
However just because it is a surprise, doesn't mean it is going to work every time. Following Carlsen's lead, Karjakin used it against Michael Adams in round 10 of the same event, only to end up on the wrong side of the win/loss column. To be fair to the opening, after move 20 things seemed to fine for White, and optically White's attack looks stronger than Black's. Where it really goes wrong for White is at move 25 where Karjakin's plan to run his king to safety on the kingside ironically makes it less safe, as the queenside needed an extra defender to hold it together, that being the White king itself.

Karjakin,Sergey (2769) - Adams,Michael (2744) [A45]
78th Tata Steel GpA Wijk aan Zee NED (10.5), 27.01.2016

1. d4 Nf6 2. Bf4 d5 3. e3 e6 4. Nf3 c5 5. c3 Nc6 6. Nbd2 Bd6 7. Bg3 O-O 8. Bd3 b6 9. Ne5 Bb7 10. f4 Ne7 11. Qf3 Nf5 12. Bf2 Be7 13. g4 Nd6 14. g5 Nfe4 15. O-O-O c4 16. Bc2 b5 17. Qh3 b4 18. Nxe4 dxe4 19. Be1 Bd5 20. Rg1 b3 21. axb3 cxb3 22. Bb1 f5 23. gxf6 Bxf6 24. Rg4 Nf5 25. Kd2 Qa5 26. Ke2 Bxe5 27. dxe5 Rad8 28. Kf2 Qa1 29. Bd2 Bc4 30. Qh5 Qxb2 31. Ke1 Rxd2 0-1