diff --git a/package.json b/package.json
index be7b62a8..074ff02f 100644
--- a/package.json
+++ b/package.json
@@ -36,7 +36,7 @@
     "decimal.js": "^10.2.1",
     "formik": "^2.2.9",
     "google-protobuf": "^3.15.8",
-    "ldk": "^0.5.4",
+    "ldk": "^0.5.8",
     "lodash.debounce": "^4.0.8",
     "lottie-web": "^5.7.8",
     "marina-provider": "^1.7.2",
diff --git a/src/application/redux/reducers/index.ts b/src/application/redux/reducers/index.ts
index 723c60e9..1d4a885f 100644
--- a/src/application/redux/reducers/index.ts
+++ b/src/application/redux/reducers/index.ts
@@ -107,7 +107,7 @@ const marinaReducer = combineReducers({
     reducer: walletReducer,
     key: 'wallet',
     blacklist: ['deepRestorer', 'updaterLoaders'],
-    version: 4,
+    version: 5,
     migrate: walletMigrate,
   }),
   taxi: persist<TaxiState>({
diff --git a/src/domain/migrations.ts b/src/domain/migrations.ts
index 7a3b4421..22e44fff 100644
--- a/src/domain/migrations.ts
+++ b/src/domain/migrations.ts
@@ -9,8 +9,11 @@ import type { MasterBlindingKey } from './master-blinding-key';
 import type { MasterXPub } from './master-extended-pub';
 import type { WalletState } from './wallet';
 
+// v5 only erases the current transactions state for all accounts during migration
+export type WalletPersistedStateV5 = WalletState & Partial<PersistedState>;
+
 // v4 is a fixed version of v3 about covenantTemplate field in CustomAccountData
-export type WalletPersistedStateV4 = WalletState & Partial<PersistedState>;
+export type WalletPersistedStateV4 = WalletPersistedStateV5;
 
 export type WalletPersistedStateV3 = WalletPersistedStateV4;
 type keysAddedInV3 = 'encryptedMnemonic' | 'accounts';
@@ -30,6 +33,10 @@ type deletedInV2 = {
 export type WalletPersistedStateV1 = Omit<WalletPersistedStateV2, keysAddedInV2> & deletedInV2;
 
 export const walletMigrations = {
+  5: (state: WalletPersistedStateV4): WalletPersistedStateV5 => ({
+    ...state,
+    unspentsAndTransactions: removeTransactions(state.unspentsAndTransactions),
+  }),
   4: (state: WalletPersistedStateV3) => ({
     ...state,
     accounts: accountsFieldRenameV4(state.accounts),
@@ -78,5 +85,20 @@ function accountsFieldRenameV4(
   }
   return renamed;
 }
+
+function removeTransactions(
+  utxosAndTxs: WalletPersistedStateV4['unspentsAndTransactions']
+): WalletPersistedStateV5['unspentsAndTransactions'] {
+  const result: WalletPersistedStateV5['unspentsAndTransactions'] = {};
+  for (const [accountID, utxosTxsByNetwork] of Object.entries(utxosAndTxs)) {
+    result[accountID] = {
+      liquid: { ...utxosTxsByNetwork.liquid, transactions: {} },
+      testnet: { ...utxosTxsByNetwork.testnet, transactions: {} },
+      regtest: { ...utxosTxsByNetwork.regtest, transactions: {} },
+    };
+  }
+  return result;
+}
+
 // `as any` is needed (redux-persist doesn't support generic types in createMigrate func)
 export const walletMigrate = createMigrate(walletMigrations as any);
diff --git a/yarn.lock b/yarn.lock
index ccefe939..17d28797 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -6553,10 +6553,10 @@ ldk@^0.5.2:
     slip77 "^0.2.0"
     tslib "^2.3.1"
 
-ldk@^0.5.4:
-  version "0.5.4"
-  resolved "https://registry.yarnpkg.com/ldk/-/ldk-0.5.4.tgz#20240f318a5f047d2023adec02f1eae466278042"
-  integrity sha512-55f6Xd79L0WyRoMdhF1Ebk3efO9Nslcr0Z68ViAZvGF4j3Yo54yQQESgWa7PMHw5RSRxe0pKHQbF3nPmpmGURA==
+ldk@^0.5.8:
+  version "0.5.8"
+  resolved "https://registry.yarnpkg.com/ldk/-/ldk-0.5.8.tgz#c9ee3af9397843cb166689789e39d4e9c0d25f67"
+  integrity sha512-IMsMKRxFNFhgM1SaqaCI84ABVTV9nd3AzXMP1zeX5ByD/R5lnWhzy9xrz8xxPsf1kSCEBs/N0uA1twSXQznuVw==
   dependencies:
     axios "^0.21.1"
     bip32 "^3.0.1"