The UK's National Police Chiefs Council (NPCC) has told cybercrime experts it is losing 3 to 4 times the rate of other cops.

The cryptocurrency industry appears to be largely responsible for this, with major companies poaching these professionals with tempting offers and much higher wages than they get in the police wires.

Migration to the crypto world:

According to a Bloomberg report, cryptocurrency exchange Coinbase and blockchain intelligence firm Chainalysis are among the companies paying big money to hire former police officers and cybercriminals.

A Coinbase spokesperson explained that these experts can play an essential role in helping keep client funds safe, and establishing trust in the cryptocurrency economy.

Binance also hired experts from the Financial Supervisory Authority and the Financial Industry Regulatory Authority last week.

The appointments are aimed at ensuring the company's compliance with regulations and sanctions worldwide as politicians increasingly wary of crypto's role in illegal activity.

According to the “NPCC” statement, the crypto industry is generating a lot of money, and as such, companies operating in it can afford to offer very attractive salaries that lure cyber security experts away from the police wires.

Andrew Gould, Head of the Cybercrime Unit at NPCC, said:

The loss of experienced cyber personnel is a huge problem for us.

Their skills are in great demand in the private sector, where they can triple their salaries and that is why they are going.

According to NPCC estimates, about 15 people from prominent police and law enforcement backgrounds now work for major crypto firms. This number is expected to increase over the next 12 to 18 months.

Gold added:

While we do not envy them for an operationally well-deserved pay increase, we cannot afford to lose such highly skilled employees at this rate.