diff --git a/src/qt/walletmodel.cpp b/src/qt/walletmodel.cpp
index ee3327530c49a..d564a1c83ec92 100644
--- a/src/qt/walletmodel.cpp
+++ b/src/qt/walletmodel.cpp
@@ -449,6 +449,13 @@ void WalletModel::unsubscribeFromCoreSignals()
 // WalletModel::UnlockContext implementation
 WalletModel::UnlockContext WalletModel::requestUnlock()
 {
+    // Bugs in earlier versions may have resulted in wallets with private keys disabled to become "encrypted"
+    // (encryption keys are present, but not actually doing anything).
+    // To avoid issues with such wallets, check if the wallet has private keys disabled, and if so, return a context
+    // that indicates the wallet is not encrypted.
+    if (m_wallet->privateKeysDisabled()) {
+        return UnlockContext(this, /*valid=*/true, /*relock=*/false);
+    }
     bool was_locked = getEncryptionStatus() == Locked;
     if(was_locked)
     {