diff --git a/app/util/importAdditionalAccounts.js b/app/util/importAdditionalAccounts.js
deleted file mode 100644
index 9b015ce661b..00000000000
--- a/app/util/importAdditionalAccounts.js
+++ /dev/null
@@ -1,60 +0,0 @@
-import Engine from '../core/Engine';
-import { BNToHex } from '../util/number';
-import Logger from '../util/Logger';
-import ExtendedKeyringTypes from '../../app/constants/keyringTypes';
-
-const HD_KEY_TREE_ERROR = 'MetamaskController - No HD Key Tree found';
-const ZERO_BALANCE = '0x0';
-const MAX = 20;
-
-/**
- * Get an account balance from the network.
- * @param {string} address - The account address
- * @param {EthQuery} ethQuery - The EthQuery instance to use when asking the network
- */
-const getBalance = async (address, ethQuery) =>
-  new Promise((resolve, reject) => {
-    ethQuery.getBalance(address, (error, balance) => {
-      if (error) {
-        reject(error);
-        Logger.error(error);
-      } else {
-        const balanceHex = BNToHex(balance);
-        resolve(balanceHex || ZERO_BALANCE);
-      }
-    });
-  });
-
-/**
- * Add additional accounts in the wallet based on balance
- */
-export default async () => {
-  const { KeyringController } = Engine.context;
-
-  const ethQuery = Engine.getGlobalEthQuery();
-  let accounts = await KeyringController.getAccounts();
-  let lastBalance = await getBalance(accounts[accounts.length - 1], ethQuery);
-
-  const { keyrings } = KeyringController.state;
-  const filteredKeyrings = keyrings.filter(
-    (keyring) => keyring.type === ExtendedKeyringTypes.hd,
-  );
-  const primaryKeyring = filteredKeyrings[0];
-  if (!primaryKeyring) throw new Error(HD_KEY_TREE_ERROR);
-
-  let i = 0;
-  // seek out the first zero balance
-  while (lastBalance !== ZERO_BALANCE) {
-    if (i === MAX) break;
-    await KeyringController.addNewAccountWithoutUpdate(primaryKeyring);
-    accounts = await KeyringController.getAccounts();
-    lastBalance = await getBalance(accounts[accounts.length - 1], ethQuery);
-    i++;
-  }
-
-  // remove extra zero balance account potentially created from seeking ahead
-  if (accounts.length > 1 && lastBalance === ZERO_BALANCE) {
-    await KeyringController.removeAccount(accounts[accounts.length - 1]);
-    accounts = await KeyringController.getAccounts();
-  }
-};
diff --git a/app/util/importAdditionalAccounts.test.ts b/app/util/importAdditionalAccounts.test.ts
new file mode 100644
index 00000000000..bc72c072edd
--- /dev/null
+++ b/app/util/importAdditionalAccounts.test.ts
@@ -0,0 +1,111 @@
+import importAdditionalAccounts from './importAdditionalAccounts';
+import { BN } from 'ethereumjs-util';
+
+const mockKeyring = {
+  addAccounts: jest.fn(),
+  removeAccount: jest.fn(),
+};
+
+const mockEthQuery = {
+  getBalance: jest.fn(),
+};
+
+jest.mock('../core/Engine', () => ({
+  context: {
+    KeyringController: {
+      withKeyring: jest.fn((_keyring, callback) => callback(mockKeyring)),
+    },
+  },
+  getGlobalEthQuery: () => mockEthQuery,
+}));
+
+/**
+ * Set the balance that will be queried for the account
+ *
+ * @param balance - The balance to be queried
+ */
+function setQueriedBalance(balance: BN) {
+  mockEthQuery.getBalance.mockImplementation((_, callback) =>
+    callback(null, balance),
+  );
+}
+
+/**
+ * Set the balance that will be queried for the account once
+ *
+ * @param balance - The balance to be queried
+ */
+function setQueriedBalanceOnce(balance: BN) {
+  mockEthQuery.getBalance.mockImplementationOnce((_, callback) => {
+    callback(null, balance);
+  });
+}
+
+describe('importAdditionalAccounts', () => {
+  beforeEach(() => {
+    jest.clearAllMocks();
+  });
+
+  describe('when there is no account with balance', () => {
+    it('should not add any account', async () => {
+      setQueriedBalance(new BN(0));
+      mockKeyring.addAccounts.mockResolvedValue(['0x1234']);
+
+      await importAdditionalAccounts();
+
+      expect(mockKeyring.addAccounts).toHaveBeenCalledTimes(1);
+      expect(mockKeyring.removeAccount).toHaveBeenCalledTimes(1);
+      expect(mockKeyring.removeAccount).toHaveBeenCalledWith('0x1234');
+    });
+  });
+
+  describe('when there is an account with balance', () => {
+    it('should add 1 account', async () => {
+      setQueriedBalanceOnce(new BN(1));
+      setQueriedBalanceOnce(new BN(0));
+      mockKeyring.addAccounts
+        .mockResolvedValueOnce(['0x1234'])
+        .mockResolvedValueOnce(['0x5678']);
+
+      await importAdditionalAccounts();
+
+      expect(mockKeyring.addAccounts).toHaveBeenCalledTimes(2);
+      expect(mockKeyring.removeAccount).toHaveBeenCalledWith('0x5678');
+    });
+  });
+
+  describe('when there are multiple accounts with balance', () => {
+    it('should add 2 accounts', async () => {
+      setQueriedBalanceOnce(new BN(1));
+      setQueriedBalanceOnce(new BN(2));
+      setQueriedBalanceOnce(new BN(0));
+      mockKeyring.addAccounts
+        .mockResolvedValueOnce(['0x1234'])
+        .mockResolvedValueOnce(['0x5678'])
+        .mockResolvedValueOnce(['0x9abc']);
+
+      await importAdditionalAccounts();
+
+      expect(mockKeyring.addAccounts).toHaveBeenCalledTimes(3);
+      expect(mockKeyring.removeAccount).toHaveBeenCalledWith('0x9abc');
+    });
+  });
+
+  describe('when ethQuery.getBalance throws an error', () => {
+    it('should not remove all the accounts', async () => {
+      setQueriedBalanceOnce(new BN(1));
+      mockEthQuery.getBalance.mockImplementationOnce((_, callback) =>
+        callback(new Error('error')),
+      );
+      mockKeyring.addAccounts
+        .mockResolvedValueOnce(['0x1234'])
+        .mockResolvedValueOnce(['0x5678']);
+
+      await importAdditionalAccounts();
+
+      expect(mockKeyring.addAccounts).toHaveBeenCalledTimes(2);
+      expect(mockKeyring.removeAccount).toHaveBeenCalledTimes(1);
+      expect(mockKeyring.removeAccount).toHaveBeenCalledWith('0x5678');
+    });
+  });
+});
diff --git a/app/util/importAdditionalAccounts.ts b/app/util/importAdditionalAccounts.ts
new file mode 100644
index 00000000000..8da7200d9f4
--- /dev/null
+++ b/app/util/importAdditionalAccounts.ts
@@ -0,0 +1,60 @@
+import Engine from '../core/Engine';
+import { BNToHex } from '../util/number';
+import Logger from '../util/Logger';
+import ExtendedKeyringTypes from '../../app/constants/keyringTypes';
+import type EthQuery from '@metamask/eth-query';
+import type { BN } from 'ethereumjs-util';
+import { Hex } from '@metamask/utils';
+
+const ZERO_BALANCE = '0x0';
+const MAX = 20;
+
+/**
+ * Get an account balance from the network.
+ * @param address - The account address
+ * @param ethQuery - The EthQuery instance to use when asking the network
+ */
+const getBalance = async (address: string, ethQuery: EthQuery): Promise<Hex> =>
+  new Promise((resolve, reject) => {
+    ethQuery.getBalance(address, (error: Error, balance: BN) => {
+      if (error) {
+        reject(error);
+        Logger.error(error);
+      } else {
+        const balanceHex = BNToHex(balance);
+        resolve(balanceHex || ZERO_BALANCE);
+      }
+    });
+  });
+
+/**
+ * Add additional accounts in the wallet based on balance
+ */
+export default async () => {
+  const { KeyringController } = Engine.context;
+  const ethQuery = Engine.getGlobalEthQuery();
+
+  await KeyringController.withKeyring(
+    { type: ExtendedKeyringTypes.hd },
+    async (primaryKeyring) => {
+      for (let i = 0; i < MAX; i++) {
+        const [newAccount] = await primaryKeyring.addAccounts(1);
+
+        let newAccountBalance = ZERO_BALANCE;
+        try {
+          newAccountBalance = await getBalance(newAccount, ethQuery);
+        } catch (error) {
+          // Errors are gracefully handled so that `withKeyring`
+          // will not rollback the primary keyring, and accounts
+          // created in previous loop iterations will remain in place.
+        }
+
+        if (newAccountBalance === ZERO_BALANCE) {
+          // remove extra zero balance account we just added and break the loop
+          primaryKeyring.removeAccount?.(newAccount);
+          break;
+        }
+      }
+    },
+  );
+};