diff --git a/CHANGELOG.md b/CHANGELOG.md
index b9815b66928..3d70f1886f2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -167,6 +167,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Bug Fixes
 
+* [\#10844](https://github.com/cosmos/cosmos-sdk/pull/10844) Automatic recovering non-consistent keyring storage during public key import
 * (store) [\#11117](https://github.com/cosmos/cosmos-sdk/pull/11117) Fix data race in store trace component
 * (cli) [\#11065](https://github.com/cosmos/cosmos-sdk/pull/11065) Ensure the `tendermint-validator-set` query command respects the `-o` output flag.
 * (grpc) [\#10985](https://github.com/cosmos/cosmos-sdk/pull/10992) The `/cosmos/tx/v1beta1/txs/{hash}` endpoint returns a 404 when a tx does not exist.
diff --git a/crypto/keyring/keyring.go b/crypto/keyring/keyring.go
index 4011b2a2847..db4eb8fbb9c 100644
--- a/crypto/keyring/keyring.go
+++ b/crypto/keyring/keyring.go
@@ -810,18 +810,29 @@ func (ks keystore) writeRecord(k *Record) error {
 
 // existsInDb returns (true, nil) if either addr or name exist is in keystore DB.
 // On the other hand, it returns (false, error) if Get method returns error different from keyring.ErrKeyNotFound
+// In case of inconsistent keyring, it recovers it automatically.
 func (ks keystore) existsInDb(addr sdk.Address, name string) (bool, error) {
-
-	if _, err := ks.db.Get(addrHexKeyAsString(addr)); err == nil {
-		return true, nil // address lookup succeeds - info exists
-	} else if err != keyring.ErrKeyNotFound {
-		return false, err // received unexpected error - returns error
+	_, errAddr := ks.db.Get(addrHexKeyAsString(addr))
+	if errAddr != nil && !errors.Is(errAddr, keyring.ErrKeyNotFound) {
+		return false, errAddr
 	}
 
-	if _, err := ks.db.Get(name); err == nil {
+	_, errInfo := ks.db.Get(infoKey(name))
+	if errInfo == nil {
 		return true, nil // uid lookup succeeds - info exists
-	} else if err != keyring.ErrKeyNotFound {
-		return false, err // received unexpected error - returns
+	} else if !errors.Is(errInfo, keyring.ErrKeyNotFound) {
+		return false, errInfo // received unexpected error - returns
+	}
+
+	// looking for an issue, record with meta (getByAddress) exists, but record with public key itself does not
+	if errAddr == nil && errors.Is(errInfo, keyring.ErrKeyNotFound) {
+		fmt.Fprintf(os.Stderr, "address \"%s\" exists but pubkey itself does not\n", hex.EncodeToString(addr.Bytes()))
+		fmt.Fprintln(os.Stderr, "recreating pubkey record")
+		err := ks.db.Remove(addrHexKeyAsString(addr))
+		if err != nil {
+			return true, err
+		}
+		return false, nil
 	}
 
 	// both lookups failed, info does not exist
diff --git a/crypto/keyring/keyring_test.go b/crypto/keyring/keyring_test.go
index 3afd35676fb..ad3e109b74d 100644
--- a/crypto/keyring/keyring_test.go
+++ b/crypto/keyring/keyring_test.go
@@ -1064,6 +1064,43 @@ func TestAltKeyring_SaveOfflineKey(t *testing.T) {
 	require.Len(t, list, 1)
 }
 
+func TestNonConsistentKeyring_SavePubKey(t *testing.T) {
+	cdc := getCodec()
+	kr, err := New(t.Name(), BackendTest, t.TempDir(), nil, cdc)
+	require.NoError(t, err)
+
+	list, err := kr.List()
+	require.NoError(t, err)
+	require.Empty(t, list)
+
+	key := someKey
+	priv := ed25519.GenPrivKey()
+	pub := priv.PubKey()
+
+	k, err := kr.SaveOfflineKey(key, pub)
+	require.Nil(t, err)
+
+	// broken keyring state test
+	unsafeKr, ok := kr.(keystore)
+	require.True(t, ok)
+	// we lost public key for some reason, but still have an address record
+	unsafeKr.db.Remove(infoKey(key))
+	list, err = kr.List()
+	require.NoError(t, err)
+	require.Equal(t, 0, len(list))
+
+	k, err = kr.SaveOfflineKey(key, pub)
+	require.Nil(t, err)
+	pubKey, err := k.GetPubKey()
+	require.NoError(t, err)
+	require.Equal(t, pub, pubKey)
+	require.Equal(t, key, k.Name)
+
+	list, err = kr.List()
+	require.NoError(t, err)
+	require.Equal(t, 1, len(list))
+}
+
 func TestAltKeyring_SaveMultisig(t *testing.T) {
 	cdc := getCodec()
 	kr, err := New(t.Name(), BackendTest, t.TempDir(), nil, cdc)