Fintech firm Marquis blames hack at firewall provider SonicWall for its data breach

Fintech firm Marquis blames hack at firewall provider SonicWall for its data breach

Fintech firm Marquis told clients that it plans to hunt compensation from its firewall provider after blaming the company for a breach that allowed hackers to steal its clients’ private and monetary data.

In a memo shared with clients this week and seen by TechCrunch, Marquis said it believes that its August 2025 ransomware assault occurred because the company’s firewall service provider SonicWall had its personal data breach that uncovered crucial safety data about its clients’ firewalls. That earlier breach of SonicWall allowed hackers to acquire credentials wanted to launch a ransomware assault against Marquis, the memo said.

Marquis said its third-party investigation decided that the hackers obtained data about its firewall during the breach at SonicWall, which Marquis claims was used to avoid its firewall. Marquis confirmed in the communication that it saved a backup of its firewall configuration file in SonicWall’s cloud. 

The company was “evaluating its options” relating to its firewall provider, including the “recoupment of any expenses spent by Marquis and its customers in responding to the data incident,” according to the memo.

When reached for remark, Hanna Grimm, an company spokesperson representing Marquis, didn’t deal with or dispute the company’s latest communication to clients, however reiterated the declare linking its breach with an earlier theft of its firewall configuration.

“In September 2025, after the data security incident affected our systems, our firewall service provider, an industry-leading cybersecurity company, publicly disclosed that a threat actor had earlier in the year gained unauthorized access to its cloud backup service,” the assertion said. 

“Marquis had recently begun using this provider’s firewalls to help protect our network,” the assertion added. “While the provider initially reported that fewer than 5% of customers were affected, it later clarified in October 2025 that firewall configuration data and credentials associated with all customers using the cloud backup service, including Marquis, had been accessed.”

When contacted by TechCrunch, SonicWall spokesperson Bret Fitzgerald said that the company has requested Marquis for proof to substantiate its claims and said it will continue to have interaction with its buyer.

“We have no new evidence to establish a connection between the SonicWall security incident reported in September 2025 and ongoing global ransomware attacks on firewalls and other edge devices,” Fitzgerald said.

The Texas-based Marquis, which permits a whole lot of banks and credit score unions to visualise their clients’ data, started notifying a whole lot of 1000’s of people last month that their data was taken during its ransomware assault.

The company has entry to large quantities of data belonging to shopper banking clients across the U.S., including private data, monetary data, and Social Security numbers, which the hackers stole.

SonicWall conceded in October that an earlier breach of its techniques had in fact affected all of its clients who backed up their firewall recordsdata to SonicWall’s cloud. It had beforehand said hackers stole only a fraction of its clients’ firewall configuration recordsdata containing insurance policies and settings.

In the communication seen by TechCrunch, Marquis said it called in a third-party to analyze whether or not a patch it had did not roll out at the time of the breach may have been guilty, however concluded that the patch associated to a flaw that was not exploitable in a method that may have allowed hackers to entry the company’s data.

Marquis’ spokesperson declined to supply plenty of how many people are affected by its data breach. The variety of people identified to be affected by the breach is anticipated to rise as new data breach notifications are submitted to state attorneys common. 

Do you realize more about the Marquis data breach? Do you’re employed at Marquis or a company affected by the breach? We would love to listen to from you. To securely contact this reporter, you may attain out utilizing Signal by way of the username: zackwhittaker.1337

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