diff --git a/extension/popup/screens/HomeScreen.tsx b/extension/popup/screens/HomeScreen.tsx
index 8f8c173..5916d31 100644
--- a/extension/popup/screens/HomeScreen.tsx
+++ b/extension/popup/screens/HomeScreen.tsx
@@ -270,9 +270,9 @@ export function HomeScreen() {
     }
   };
 
-  // Filter to show outgoing and incoming transactions (exclude 'self' which is internal transfers)
+  // Only show outgoing transactions in history (we don't store incoming)
   const displayTransactions = walletTransactions.filter(
-    tx => tx.direction === 'outgoing' || tx.direction === 'incoming'
+    tx => tx.direction === 'outgoing'
   );
 
   // Group wallet transactions by date
diff --git a/extension/shared/vault.ts b/extension/shared/vault.ts
index 9c693dd..a254063 100644
--- a/extension/shared/vault.ts
+++ b/extension/shared/vault.ts
@@ -497,9 +497,13 @@ export class Vault {
   > {
     const stored = await chrome.storage.local.get([
       STORAGE_KEYS.ENCRYPTED_VAULT,
+      STORAGE_KEYS.ENCRYPTED_ACCOUNT_DATA,
       STORAGE_KEYS.CURRENT_ACCOUNT_INDEX,
     ]);
     const enc = stored[STORAGE_KEYS.ENCRYPTED_VAULT] as EncryptedVault | undefined;
+    const encAccountData = stored[STORAGE_KEYS.ENCRYPTED_ACCOUNT_DATA] as
+      | EncryptedAccountDataBlob
+      | undefined;
     const currentAccountIndex =
       (stored[STORAGE_KEYS.CURRENT_ACCOUNT_INDEX] as number | undefined) || 0;
 
@@ -520,8 +524,35 @@ export class Vault {
     const payload = JSON.parse(pt) as VaultPayload;
     const accounts = payload.accounts;
 
+    // Load account data (same as password unlock) so transaction history displays
+    let utxoStore: UTXOStore = {};
+    let walletTxStore: WalletTxStore = {};
+    let cachedBalances: Record<string, number> = {};
+    let loadedFromEncrypted = false;
+
+    if (encAccountData) {
+      const accountDataPt = await decryptGCM(
+        key,
+        new Uint8Array(encAccountData.cipher.iv),
+        new Uint8Array(encAccountData.cipher.ct)
+      ).catch(() => null);
+
+      if (accountDataPt) {
+        const accountData = JSON.parse(accountDataPt) as EncryptedAccountData;
+        utxoStore = accountData.utxoStore || {};
+        walletTxStore = accountData.walletTxStore || {};
+        cachedBalances = accountData.cachedBalances || {};
+        loadedFromEncrypted = true;
+      }
+    }
+
+    // Key is only cached after unlock() runs, so migration has always happened.
+    // No legacy fallback needed.
     this.mnemonic = payload.mnemonic;
     this.encryptionKey = key;
+    this.utxoStore = utxoStore;
+    this.walletTxStore = walletTxStore;
+    this.cachedBalances = cachedBalances;
 
     this.state = {
       locked: false,
@@ -1106,22 +1137,8 @@ export class Vault {
           storedNote.pendingTxId = walletTxId;
           newChange++;
         } else {
-          // Incoming transaction - create a WalletTransaction record
-          const incomingTxId = crypto.randomUUID();
-          const now = Date.now();
-
-          await this.addWalletTransaction({
-            id: incomingTxId,
-            txHash: newUTXO.sourceHash,
-            accountAddress,
-            direction: 'incoming',
-            createdAt: now,
-            updatedAt: now,
-            status: 'confirmed',
-            amount: newUTXO.assets,
-            receivedNoteIds: [newUTXO.noteId],
-          });
-
+          // Don't create WalletTransaction records for incoming UTXOs.
+          // Only outgoing transactions appear in history. Balance still updates correctly.
           newIncoming++;
         }