diff --git a/api/geth_backend.go b/api/geth_backend.go
index 2dcabb7d4..859fcdb64 100644
--- a/api/geth_backend.go
+++ b/api/geth_backend.go
@@ -749,8 +749,7 @@ func (b *GethStatusBackend) ImportUnencryptedDatabase(acc multiaccounts.Account,
 	return nil
 }
 
-func (b *GethStatusBackend) ChangeDatabasePassword(keyUID string, password string, newPassword string) error {
-	dbPath := filepath.Join(b.rootDataDir, fmt.Sprintf("%s-v4.db", keyUID))
+func (b *GethStatusBackend) reEncryptKeyStoreDir(currentPassword string, newPassword string) error {
 	config := b.StatusNode().Config()
 	keyDir := ""
 	if config == nil {
@@ -760,25 +759,74 @@ func (b *GethStatusBackend) ChangeDatabasePassword(keyUID string, password strin
 	}
 
 	if keyDir != "" {
-		err := b.accountManager.ReEncryptKeyStoreDir(keyDir, password, newPassword)
+		err := b.accountManager.ReEncryptKeyStoreDir(keyDir, currentPassword, newPassword)
 		if err != nil {
 			return fmt.Errorf("ReEncryptKeyStoreDir error: %v", err)
 		}
 	}
+	return nil
+}
 
-	kdfIterations, err := b.multiaccountsDB.GetAccountKDFIterationsNumber(keyUID)
+func (b *GethStatusBackend) ChangeDatabasePassword(keyUID string, password string, newPassword string) error {
+	dbPath := filepath.Join(b.rootDataDir, fmt.Sprintf("%s-v4.db", keyUID))
+
+	account, err := b.multiaccountsDB.GetAccount(keyUID)
 	if err != nil {
 		return err
 	}
-	err = appdatabase.ChangeDatabasePassword(dbPath, password, kdfIterations, newPassword)
+
+	file, err := os.CreateTemp("", "*-v4.db")
 	if err != nil {
-		if config != nil {
-			keyDir := config.KeyStoreDir
-			// couldn't change db password so undo keystore changes to mainitain consistency
-			_ = b.accountManager.ReEncryptKeyStoreDir(keyDir, newPassword, password)
+		return err
+	}
+
+	newDBPath := file.Name()
+	defer func() {
+		_ = file.Close()
+		_ = os.Remove(newDBPath)
+		_ = os.Remove(newDBPath + "-wal")
+		_ = os.Remove(newDBPath + "-shm")
+		_ = os.Remove(newDBPath + "-journal")
+	}()
+
+	// Exporting database to a temporary file with a new password
+	err = appdatabase.ExportDB(dbPath, password, account.KDFIterations, newDBPath, newPassword)
+	if err != nil {
+		return err
+	}
+
+	err = b.reEncryptKeyStoreDir(password, newPassword)
+	if err != nil {
+		return err
+	}
+
+	// Replacing the old database with the new one requires closing all connections to the database
+	// This is done by stopping the node and restarting it with the new DB
+	appDBPath, _ := appdatabase.GetDBFilename(b.appDB)
+	changeCurrentAccountPassword := appDBPath == dbPath
+	if changeCurrentAccountPassword {
+		_ = b.Logout()
+	}
+
+	// Replacing the old database files with the new ones, ignoring the wal and shm errors
+	err = os.Rename(newDBPath, dbPath)
+	if err != nil {
+		// Restore the old account
+		_ = b.reEncryptKeyStoreDir(newPassword, password)
+		if changeCurrentAccountPassword {
+			_ = b.startNodeWithAccount(*account, password, nil)
 		}
 		return err
 	}
+
+	_ = os.Remove(dbPath + "-wal")
+	_ = os.Remove(dbPath + "-shm")
+	_ = os.Rename(newDBPath+"-wal", dbPath+"-wal")
+	_ = os.Rename(newDBPath+"-shm", dbPath+"-shm")
+
+	if changeCurrentAccountPassword {
+		return b.startNodeWithAccount(*account, newPassword, nil)
+	}
 	return nil
 }
 
diff --git a/appdatabase/database.go b/appdatabase/database.go
index 0ebd7fb42..1a91bf955 100644
--- a/appdatabase/database.go
+++ b/appdatabase/database.go
@@ -72,6 +72,10 @@ func EncryptDatabase(oldPath, newPath, password string, kdfIterationsNumber int)
 	return sqlite.EncryptDB(oldPath, newPath, password, kdfIterationsNumber)
 }
 
+func ExportDB(path string, password string, kdfIterationsNumber int, newDbPAth string, newPassword string) error {
+	return sqlite.ExportDB(path, password, kdfIterationsNumber, newDbPAth, newPassword)
+}
+
 func ChangeDatabasePassword(path string, password string, kdfIterationsNumber int, newPassword string) error {
 	return sqlite.ChangeEncryptionKey(path, password, kdfIterationsNumber, newPassword)
 }
diff --git a/sqlite/sqlite.go b/sqlite/sqlite.go
index fd5be8a7e..9f8e083c9 100644
--- a/sqlite/sqlite.go
+++ b/sqlite/sqlite.go
@@ -102,6 +102,16 @@ func EncryptDB(unencryptedPath string, encryptedPath string, key string, kdfIter
 	return encryptDB(db, encryptedPath, key, kdfIterationsNumber)
 }
 
+// Export takes an encrypted database and re-encrypts it in a new file, with a new key
+func ExportDB(encryptedPath string, key string, kdfIterationsNumber int, newPath string, newKey string) error {
+	db, err := openDB(encryptedPath, key, kdfIterationsNumber, V4CipherPageSize)
+	if err != nil {
+		return err
+	}
+	defer db.Close()
+	return encryptDB(db, newPath, newKey, kdfIterationsNumber)
+}
+
 func buildSqlcipherDSN(path string) (string, error) {
 	if path == InMemoryPath {
 		return InMemoryPath, nil