diff --git a/core/src/main/java/bisq/core/api/CoreAccountService.java b/core/src/main/java/bisq/core/api/CoreAccountService.java
index f8cce7cb14..5d916ae679 100644
--- a/core/src/main/java/bisq/core/api/CoreAccountService.java
+++ b/core/src/main/java/bisq/core/api/CoreAccountService.java
@@ -35,6 +35,9 @@ import java.util.List;
 import java.util.function.Consumer;
 import javax.inject.Inject;
 import javax.inject.Singleton;
+
+import org.apache.commons.lang3.StringUtils;
+
 import lombok.Getter;
 import lombok.extern.slf4j.Slf4j;
 
@@ -111,13 +114,13 @@ public class CoreAccountService {
         }
     }
 
-    public void changePassword(String password) {
+    public void changePassword(String oldPassword, String newPassword) {
         if (!isAccountOpen()) throw new IllegalStateException("Cannot change password on unopened account");
-        String oldPassword = this.password;
-        keyStorage.saveKeyRing(keyRing, oldPassword, password);
-        this.password = password;
+        if (!StringUtils.equals(this.password, oldPassword)) throw new IllegalStateException("Incorrect password");
+        keyStorage.saveKeyRing(keyRing, oldPassword, newPassword);
+        this.password = newPassword;
         synchronized (listeners) {
-            for (AccountServiceListener listener : listeners) listener.onPasswordChanged(oldPassword, password);
+            for (AccountServiceListener listener : listeners) listener.onPasswordChanged(oldPassword, newPassword);
         }
     }
 
diff --git a/core/src/main/java/bisq/core/api/CoreApi.java b/core/src/main/java/bisq/core/api/CoreApi.java
index ac9d369a02..7278df2d73 100644
--- a/core/src/main/java/bisq/core/api/CoreApi.java
+++ b/core/src/main/java/bisq/core/api/CoreApi.java
@@ -169,8 +169,8 @@ public class CoreApi {
         return appStartupState.isApplicationFullyInitialized();
     }
 
-    public void changePassword(String password) {
-        coreAccountService.changePassword(password);
+    public void changePassword(String oldPassword, String newPassword) {
+        coreAccountService.changePassword(oldPassword, newPassword);
     }
 
     public void closeAccount() {
diff --git a/daemon/src/main/java/bisq/daemon/grpc/GrpcAccountService.java b/daemon/src/main/java/bisq/daemon/grpc/GrpcAccountService.java
index 6f2111762b..5c997ef815 100644
--- a/daemon/src/main/java/bisq/daemon/grpc/GrpcAccountService.java
+++ b/daemon/src/main/java/bisq/daemon/grpc/GrpcAccountService.java
@@ -145,7 +145,7 @@ public class GrpcAccountService extends AccountImplBase {
     @Override
     public void changePassword(ChangePasswordRequest req, StreamObserver<ChangePasswordReply> responseObserver) {
         try {
-            coreApi.changePassword(req.getPassword());
+            coreApi.changePassword(req.getOldPassword(), req.getNewPassword());
             var reply = ChangePasswordReply.newBuilder().build();
             responseObserver.onNext(reply);
             responseObserver.onCompleted();
diff --git a/proto/src/main/proto/grpc.proto b/proto/src/main/proto/grpc.proto
index 1418e30ca9..6651f7729e 100644
--- a/proto/src/main/proto/grpc.proto
+++ b/proto/src/main/proto/grpc.proto
@@ -119,7 +119,8 @@ message IsAppInitializedReply {
 }
 
 message ChangePasswordRequest {
-    string password = 1;
+    string old_password = 1;
+    string new_password = 2;
 }
 
 message ChangePasswordReply {