diff --git a/app/scripts/migrations/120.3.test.ts b/app/scripts/migrations/120.6.test.ts
similarity index 92%
rename from app/scripts/migrations/120.3.test.ts
rename to app/scripts/migrations/120.6.test.ts
index 11bef64a3422..1a7daa3aa225 100644
--- a/app/scripts/migrations/120.3.test.ts
+++ b/app/scripts/migrations/120.6.test.ts
@@ -1,5 +1,5 @@
 import { cloneDeep } from 'lodash';
-import { migrate, version } from './120.3';
+import { migrate, version } from './120.6';
 
 const sentryCaptureExceptionMock = jest.fn();
 
@@ -7,9 +7,9 @@ global.sentry = {
   captureException: sentryCaptureExceptionMock,
 };
 
-const oldVersion = 120.2;
+const oldVersion = 120.5;
 
-describe('migration #120.3', () => {
+describe('migration #120.6', () => {
   afterEach(() => {
     jest.resetAllMocks();
   });
@@ -72,7 +72,7 @@ describe('migration #120.3', () => {
     expect(newStorage.data).toStrictEqual(oldStorageDataClone);
   });
 
-  it('reports error and returns state unchanged if transactions property is invalid', async () => {
+  it('removes transactions property if it is invalid', async () => {
     const oldStorage = {
       meta: { version: oldVersion },
       data: {
@@ -82,14 +82,13 @@ describe('migration #120.3', () => {
         },
       },
     };
-    const oldStorageDataClone = cloneDeep(oldStorage.data);
 
     const newStorage = await migrate(oldStorage);
 
-    expect(sentryCaptureExceptionMock).toHaveBeenCalledWith(
-      `Migration ${version}: Invalid TransactionController transactions state of type 'string'`,
-    );
-    expect(newStorage.data).toStrictEqual(oldStorageDataClone);
+    expect(newStorage.data).toStrictEqual({
+      PreferencesController: {},
+      TransactionController: {},
+    });
   });
 
   it('reports error and returns state unchanged if there is an invalid transaction', async () => {
diff --git a/app/scripts/migrations/120.3.ts b/app/scripts/migrations/120.6.ts
similarity index 93%
rename from app/scripts/migrations/120.3.ts
rename to app/scripts/migrations/120.6.ts
index 139e6f5221c2..70be368f0c98 100644
--- a/app/scripts/migrations/120.3.ts
+++ b/app/scripts/migrations/120.6.ts
@@ -7,7 +7,7 @@ type VersionedData = {
   data: Record<string, unknown>;
 };
 
-export const version = 120.3;
+export const version = 120.6;
 
 const MAX_TRANSACTION_HISTORY_LENGTH = 100;
 
@@ -52,9 +52,12 @@ function transformState(state: Record<string, unknown>): void {
     );
     return;
   } else if (!Array.isArray(transactionControllerState.transactions)) {
-    global.sentry?.captureException(
-      `Migration ${version}: Invalid TransactionController transactions state of type '${typeof transactionControllerState.transactions}'`,
+    log.error(
+      new Error(
+        `Migration ${version}: Invalid TransactionController transactions state of type '${typeof transactionControllerState.transactions}'`,
+      ),
     );
+    delete transactionControllerState.transactions;
     return;
   }
 
diff --git a/app/scripts/migrations/index.js b/app/scripts/migrations/index.js
index f4757c22fdf8..305343e7124f 100644
--- a/app/scripts/migrations/index.js
+++ b/app/scripts/migrations/index.js
@@ -133,9 +133,10 @@ const migrations = [
   require('./120'),
   require('./120.1'),
   require('./120.2'),
-  require('./120.3'),
+  // require('./120.3'), Renamed to 120.6, do not re-use this number
   require('./120.4'),
   require('./120.5'),
+  require('./120.6'),
   require('./121'),
   require('./122'),
   require('./123'),