In brief A U.S. court has sentenced Russian citizen Aleksei Volkov to 81 months in prison for his role in ransomware attacks causing over $9 million in actual losses. Volkov operated as an “initial access broker,” finding vulnerabilities and selling unauthorized access to ransomware groups who then encrypted victims’ data. The 26-year-old must pay $9.2 million in restitution to victims and forfeit equipment used in the crimes. A court in the Southern District of Indiana sentenced Russian citizen Aleksei Volkov, 26, to 81 months in prison Monday for assisting major cybercrime groups including the Yanluowang ransomware group in attacks that…

Ethereum-based decentralized finance (DeFi) lending protocol Fira said on Tuesday it was launching with about $450 million in deposits, highlighting demand for fixed-rate onchain credit.Fira said the protocol’s fixed-rate credit market allows users to lock borrowing costs and lending returns for defined periods by organizing lending around maturities rather than floating utilization-based rates, according to an announcement shared with Cointelegraph.The fixed-rate model differs from most DeFi lending protocols, where borrowers cannot lock funding costs, and lenders cannot predict returns, making long-term DeFi lending less predictable. Fira’s said its model organizes markets by maturity and determines interest rates by supply and…

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