diff --git a/assets/translations/en.json b/assets/translations/en.json
index b33edc6036..60ab6a2a91 100644
--- a/assets/translations/en.json
+++ b/assets/translations/en.json
@@ -769,6 +769,7 @@
   "noBannedPubkeys": "No banned pubkeys found",
   "unbanPubkeysFailed": "Failed to unban pubkeys",
   "privateKeyRetrievalFailed": "Failed to retrieve private keys. Please try again.",
+  "privateKeysEmptyError": "No private keys found. Assets may need to be activated. Please try again later.",
   "fetchingPrivateKeysTitle": "Fetching Private Keys...",
   "fetchingPrivateKeysMessage": "Please wait while we securely fetch your private keys...",
   "pubkeyType": "Type",
diff --git a/lib/generated/codegen_loader.g.dart b/lib/generated/codegen_loader.g.dart
index aeadb58ad1..ceb3c15a21 100644
--- a/lib/generated/codegen_loader.g.dart
+++ b/lib/generated/codegen_loader.g.dart
@@ -756,6 +756,7 @@ abstract class  LocaleKeys {
   static const noBannedPubkeys = 'noBannedPubkeys';
   static const unbanPubkeysFailed = 'unbanPubkeysFailed';
   static const privateKeyRetrievalFailed = 'privateKeyRetrievalFailed';
+  static const privateKeysEmptyError = 'privateKeysEmptyError';
   static const fetchingPrivateKeysTitle = 'fetchingPrivateKeysTitle';
   static const fetchingPrivateKeysMessage = 'fetchingPrivateKeysMessage';
   static const pubkeyType = 'pubkeyType';
diff --git a/lib/views/settings/widgets/security_settings/security_settings_page.dart b/lib/views/settings/widgets/security_settings/security_settings_page.dart
index 0cf6016229..14f8b06599 100644
--- a/lib/views/settings/widgets/security_settings/security_settings_page.dart
+++ b/lib/views/settings/widgets/security_settings/security_settings_page.dart
@@ -245,29 +245,44 @@ class _SecuritySettingsPageState extends State<SecuritySettingsPage> {
   ///
   /// This approach provides better UX by showing loading state during the entire operation.
   Future<void> onViewPrivateKeysPressed(BuildContext context) async {
+    // IMPORTANT: Store keys in a local variable first to avoid state loss during async operations.
+    // The onPasswordValidated callback executes asynchronously within WidgetsBinding.instance.addPostFrameCallback,
+    // and setting _sdkPrivateKeys directly inside the callback may cause the state to be lost when the widget
+    // rebuilds or when the dialog closes. By storing data in a local variable first and then assigning it to
+    // _sdkPrivateKeys AFTER the dialog closes, we ensure the state is preserved when the widget rebuilds.
+    Map<AssetId, List<PrivateKey>>? fetchedKeys;
+    bool isEmptyKeys = false;
+    
+    // Store SDK reference before async operations to avoid BuildContext usage across async gaps
+    final sdk = context.sdk;
+    
     final bool success = await walletPasswordDialogWithLoading(
       context,
       onPasswordValidated: (String password) async {
         try {
           // Fetch private keys directly into local UI state
           // This keeps sensitive data in minimal scope
-          final privateKeys = await context.sdk.security.getPrivateKeys();
+          final privateKeys = await sdk.security.getPrivateKeys();
+
+          // Check if private keys are empty (e.g., when coins haven't been activated yet)
+          if (privateKeys.isEmpty) {
+            isEmptyKeys = true;
+            return false; // Failure - empty private keys
+          }
 
           // Filter out excluded assets (NFTs only)
           // Geo-blocked assets are handled by the UI toggle
           final filteredPrivateKeyEntries = privateKeys.entries.where(
             (entry) => !excludedAssetList.contains(entry.key.id),
           );
-          _sdkPrivateKeys = Map.fromEntries(filteredPrivateKeyEntries);
+          fetchedKeys = Map.fromEntries(filteredPrivateKeyEntries);
 
           return true; // Success
         } catch (e) {
-          // Clear sensitive data on any error
+          isEmptyKeys = false; // Exception occurred, not empty keys
+          // Clear any previously stored private keys to prevent stale data from persisting
           _clearPrivateKeyData();
 
-          // Log error for debugging
-          debugPrint('Failed to retrieve private keys: ${e.toString()}');
-
           return false; // Failure
         }
       },
@@ -277,16 +292,31 @@ class _SecuritySettingsPageState extends State<SecuritySettingsPage> {
       passwordFieldKey: 'confirmation-showing-private-keys',
     );
 
-    if (!mounted) return;
+    if (!mounted) {
+      return;
+    }
 
-    if (success) {
+    if (success && fetchedKeys != null) {
+      // Set the keys AFTER dialog closes to ensure state is preserved
+      setState(() {
+        _sdkPrivateKeys = fetchedKeys;
+      });
+      // Clear the local reference to minimize the number of places holding sensitive data
+      // Note: fetchedKeys is a reference to the same Map object, so we only set it to null
+      // to remove the extra reference, not clear() which would clear the data used by _sdkPrivateKeys
+      fetchedKeys = null;
+      
       // Private keys are ready, show the private keys screen
       // ignore: use_build_context_synchronously
       context.read<SecuritySettingsBloc>().add(const ShowPrivateKeysEvent());
     } else {
       // Show error to user
+      // Check if failure was due to empty private keys
+      final errorMessage = isEmptyKeys
+          ? LocaleKeys.privateKeysEmptyError.tr()
+          : LocaleKeys.privateKeyRetrievalFailed.tr();
       // ignore: use_build_context_synchronously
-      _showPrivateKeyError(context, LocaleKeys.privateKeyRetrievalFailed.tr());
+      _showPrivateKeyError(context, errorMessage);
     }
   }