diff --git a/services/wallet/downloader.go b/services/wallet/downloader.go
index ad5eec420..f97c3ba94 100644
--- a/services/wallet/downloader.go
+++ b/services/wallet/downloader.go
@@ -101,36 +101,32 @@ func (d *ETHTransferDownloader) GetTransfersByNumber(ctx context.Context, number
 
 func (d *ETHTransferDownloader) getTransfersInBlock(ctx context.Context, blk *types.Block, accounts []common.Address) (rst []Transfer, err error) {
 	for _, tx := range blk.Transactions() {
-		var address *common.Address
-		from, err := types.Sender(d.signer, tx)
-		if err != nil {
-			return nil, err
-		}
-		if any(from, accounts) {
-			address = &from
-		} else if tx.To() != nil && any(*tx.To(), accounts) {
-			address = tx.To()
-		}
-		if address != nil {
-			receipt, err := d.client.TransactionReceipt(ctx, tx.Hash())
+		for _, address := range accounts {
+			from, err := types.Sender(d.signer, tx)
 			if err != nil {
 				return nil, err
 			}
-			if isTokenTransfer(receipt.Logs) {
-				log.Debug("eth downloader found token transfer", "hash", tx.Hash())
-				continue
-			}
-			rst = append(rst, Transfer{
-				Type:        ethTransfer,
-				ID:          tx.Hash(),
-				Address:     *address,
-				BlockNumber: blk.Number(),
-				BlockHash:   blk.Hash(),
-				Timestamp:   blk.Time(),
-				Transaction: tx,
-				From:        from,
-				Receipt:     receipt})
+			if from == address || (tx.To() != nil && *tx.To() == address) {
+				receipt, err := d.client.TransactionReceipt(ctx, tx.Hash())
+				if err != nil {
+					return nil, err
+				}
+				if isTokenTransfer(receipt.Logs) {
+					log.Debug("eth downloader found token transfer", "hash", tx.Hash())
+					continue
+				}
+				rst = append(rst, Transfer{
+					Type:        ethTransfer,
+					ID:          tx.Hash(),
+					Address:     address,
+					BlockNumber: blk.Number(),
+					BlockHash:   blk.Hash(),
+					Timestamp:   blk.Time(),
+					Transaction: tx,
+					From:        from,
+					Receipt:     receipt})
 
+			}
 		}
 	}
 	// TODO(dshulyak) test that balance difference was covered by transactions
@@ -311,15 +307,6 @@ func (d *ERC20TransfersDownloader) GetTransfersInRange(parent context.Context, f
 	return transfers, nil
 }
 
-func any(address common.Address, compare []common.Address) bool {
-	for _, c := range compare {
-		if c == address {
-			return true
-		}
-	}
-	return false
-}
-
 func isTokenTransfer(logs []*types.Log) bool {
 	signature := crypto.Keccak256Hash([]byte(erc20TransferEventSignature))
 	for _, l := range logs {
diff --git a/services/wallet/downloader_test.go b/services/wallet/downloader_test.go
index 71188ea16..a9036740c 100644
--- a/services/wallet/downloader_test.go
+++ b/services/wallet/downloader_test.go
@@ -24,10 +24,10 @@ func TestETHTransfers(t *testing.T) {
 type ETHTransferSuite struct {
 	suite.Suite
 
-	ethclient *ethclient.Client
-	identity  *ecdsa.PrivateKey
-	faucet    *ecdsa.PrivateKey
-	signer    types.Signer
+	ethclient           *ethclient.Client
+	identity, secondary *ecdsa.PrivateKey
+	faucet              *ecdsa.PrivateKey
+	signer              types.Signer
 
 	downloader *ETHTransferDownloader
 }
@@ -38,6 +38,8 @@ func (s *ETHTransferSuite) SetupTest() {
 	s.Require().NoError(err)
 	s.faucet, err = crypto.GenerateKey()
 	s.Require().NoError(err)
+	s.secondary, err = crypto.GenerateKey()
+	s.Require().NoError(err)
 
 	node, err := miner.NewDevNode(crypto.PubkeyToAddress(s.faucet.PublicKey))
 	s.Require().NoError(err)
@@ -48,22 +50,33 @@ func (s *ETHTransferSuite) SetupTest() {
 	s.ethclient = ethclient.NewClient(client)
 	s.signer = types.NewEIP155Signer(big.NewInt(1337))
 	s.downloader = &ETHTransferDownloader{
-		signer:   s.signer,
-		client:   s.ethclient,
-		accounts: []common.Address{crypto.PubkeyToAddress(s.identity.PublicKey)},
+		signer: s.signer,
+		client: s.ethclient,
+		accounts: []common.Address{
+			crypto.PubkeyToAddress(s.identity.PublicKey),
+			crypto.PubkeyToAddress(s.secondary.PublicKey)},
 	}
 }
 
+// signAndMineTx signs transaction with provided key and waits for it to be mined.
+// uses configured faucet key if pkey is nil.
+func (s *ETHTransferSuite) signAndMineTx(tx *types.Transaction, pkey *ecdsa.PrivateKey) {
+	if pkey == nil {
+		pkey = s.faucet
+	}
+	tx, err := types.SignTx(tx, s.signer, pkey)
+	s.Require().NoError(err)
+	s.Require().NoError(s.ethclient.SendTransaction(context.Background(), tx))
+	timeout, cancel := context.WithTimeout(context.Background(), 5*time.Second)
+	defer cancel()
+	_, err = bind.WaitMined(timeout, s.ethclient, tx)
+	s.Require().NoError(err)
+}
+
 func (s *ETHTransferSuite) TestNoBalance() {
 	ctx := context.TODO()
 	tx := types.NewTransaction(0, common.Address{1}, big.NewInt(1e18), 1e6, big.NewInt(10), nil)
-	tx, err := types.SignTx(tx, s.signer, s.faucet)
-	s.Require().NoError(err)
-	s.Require().NoError(s.ethclient.SendTransaction(ctx, tx))
-	timeout, cancel := context.WithTimeout(context.Background(), 5*time.Second)
-	defer cancel()
-	_, err = bind.WaitMined(timeout, s.ethclient, tx)
-	s.Require().NoError(err)
+	s.signAndMineTx(tx, nil)
 
 	header, err := s.ethclient.HeaderByNumber(ctx, nil)
 	s.Require().NoError(err)
@@ -119,6 +132,20 @@ func (s *ETHTransferSuite) TestBalanceUpdatedOnOutbound() {
 	s.Require().Len(transfers, 1)
 }
 
+func (s *ETHTransferSuite) TestMultipleReferences() {
+	tx := types.NewTransaction(0, crypto.PubkeyToAddress(s.identity.PublicKey), big.NewInt(1e18), 1e6, big.NewInt(10), nil)
+	s.signAndMineTx(tx, nil)
+	tx = types.NewTransaction(0, crypto.PubkeyToAddress(s.secondary.PublicKey), big.NewInt(1e17), 1e6, big.NewInt(10), nil)
+	s.signAndMineTx(tx, s.identity)
+
+	header, err := s.ethclient.HeaderByNumber(context.Background(), nil)
+	s.Require().NoError(err)
+	s.Require().Equal(big.NewInt(2), header.Number)
+	transfers, err := s.downloader.GetTransfers(context.Background(), toDBHeader(header))
+	s.Require().NoError(err)
+	s.Require().Len(transfers, 2)
+}
+
 func TestERC20Transfers(t *testing.T) {
 	suite.Run(t, new(ERC20TransferSuite))
 }