Crypto companies are reportedly targeting current and former police officers (especially those with experience of investing cyber crimes) in the U.K. with lavish salaries in a ramping up of hiring efforts.
According to a report by Bloomberg News, some of the biggest crypto firms — including Coinbase, Chainalysis, and Binance — are actively hiring law enforcement officers, offering them double and triple their current salaries to leave their jobs.
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The National Police Chiefs’ Council (NPCC) reports that they are losing “experienced cybercrime officers” and staff at 3 to 4 times the rate of the rest of the policing force. The Council serves as the representative body for all U.K. forces.
The NPCC estimates that 15 former policing or law enforcement officers now work with prominent crypto firms and expects that number to “increase significantly” over the coming year.
Andrew Gould, head of the NPCC’s cybercrime unit, told Bloomberg:
The loss of experienced cyber officers and staff is a significant problem for us. Their skills are in high demand in the private sector so we can see them doubling or tripling their pay which is why they go.