diff --git a/lib/wallet/wallet.js b/lib/wallet/wallet.js
index dc1fc7fd..aa2ef288 100644
--- a/lib/wallet/wallet.js
+++ b/lib/wallet/wallet.js
@@ -618,7 +618,7 @@ class Wallet extends EventEmitter {
     this.accountDepth += 1;
     this.save(b);
 
-    if (this.accountDepth === 0)
+    if (this.accountDepth === 1)
       this.increment(b);
 
     await b.write();