diff --git a/src/simplewallet/simplewallet.cpp b/src/simplewallet/simplewallet.cpp
index fd8a82b521..33f5f64d7c 100644
--- a/src/simplewallet/simplewallet.cpp
+++ b/src/simplewallet/simplewallet.cpp
@@ -2231,15 +2231,7 @@ bool simple_wallet::blackballed(const std::vector<std::string> &args)
 
 bool simple_wallet::save_known_rings(const std::vector<std::string> &args)
 {
-  try
-  {
-    LOCK_IDLE_SCOPE();
-    m_wallet->find_and_save_rings();
-  }
-  catch (const std::exception &e)
-  {
-    fail_msg_writer() << tr("Failed to save known rings: ") << e.what();
-  }
+  fail_msg_writer() << tr("save_known_rings is deprecated");
   return true;
 }
 
diff --git a/src/wallet/api/wallet.cpp b/src/wallet/api/wallet.cpp
index 8fda0bab72..165b21c9f3 100644
--- a/src/wallet/api/wallet.cpp
+++ b/src/wallet/api/wallet.cpp
@@ -2479,7 +2479,6 @@ void WalletImpl::doRefresh()
             if (m_history->count() == 0) {
                 m_history->refresh();
             }
-            m_wallet->find_and_save_rings(false);
         } else {
            LOG_PRINT_L3(__FUNCTION__ << ": skipping refresh - daemon is not synced");
         }
diff --git a/src/wallet/wallet2.cpp b/src/wallet/wallet2.cpp
index e9f59cd8c1..3cb583afe5 100644
--- a/src/wallet/wallet2.cpp
+++ b/src/wallet/wallet2.cpp
@@ -1250,7 +1250,7 @@ wallet2::wallet2(network_type nettype, uint64_t kdf_rounds, bool unattended, std
   m_original_keys_available(false),
   m_message_store(http_client_factory->create()),
   m_key_device_type(hw::device::device_type::SOFTWARE),
-  m_ring_history_saved(false),
+  m_ring_history_saved(true),
   m_ringdb(),
   m_last_block_reward(0),
   m_unattended(unattended),
@@ -6520,15 +6520,6 @@ void wallet2::load(const std::string& wallet_, const epee::wipeable_string& pass
   if (get_num_subaddress_accounts() == 0)
     add_subaddress_account(tr("Primary account"));
 
-  try
-  {
-    find_and_save_rings(false);
-  }
-  catch (const std::exception &e)
-  {
-    MERROR("Failed to save rings, will try again next time");
-  }
-
   try
   {
     if (use_fs)
@@ -8918,67 +8909,11 @@ bool wallet2::unset_ring(const crypto::hash &txid)
 
 bool wallet2::find_and_save_rings(bool force)
 {
-  if (!force && m_ring_history_saved)
-    return true;
-  if (!m_ringdb)
+  if (force)
+  {
+    MWARNING("wallet2::find_and_save_rings() is deprecated");
     return false;
-
-  COMMAND_RPC_GET_TRANSACTIONS::request req = AUTO_VAL_INIT(req);
-  COMMAND_RPC_GET_TRANSACTIONS::response res = AUTO_VAL_INIT(res);
-
-  MDEBUG("Finding and saving rings...");
-
-  // get payments we made
-  std::vector<crypto::hash> txs_hashes;
-  std::list<std::pair<crypto::hash,wallet2::confirmed_transfer_details>> payments;
-  get_payments_out(payments, 0, std::numeric_limits<uint64_t>::max(), boost::none, std::set<uint32_t>());
-  for (const std::pair<crypto::hash,wallet2::confirmed_transfer_details> &entry: payments)
-  {
-    const crypto::hash &txid = entry.first;
-    txs_hashes.push_back(txid);
   }
-
-  MDEBUG("Found " << std::to_string(txs_hashes.size()) << " transactions");
-
-  // get those transactions from the daemon
-  auto it = txs_hashes.begin();
-  static const size_t SLICE_SIZE = 200;
-  for (size_t slice = 0; slice < txs_hashes.size(); slice += SLICE_SIZE)
-  {
-    req.decode_as_json = false;
-    req.prune = true;
-    req.txs_hashes.clear();
-    size_t ntxes = slice + SLICE_SIZE > txs_hashes.size() ? txs_hashes.size() - slice : SLICE_SIZE;
-    for (size_t s = slice; s < slice + ntxes; ++s)
-      req.txs_hashes.push_back(epee::string_tools::pod_to_hex(txs_hashes[s]));
-
-    {
-      const boost::lock_guard<boost::recursive_mutex> lock{m_daemon_rpc_mutex};
-      uint64_t pre_call_credits = m_rpc_payment_state.credits;
-      req.client = get_client_signature();
-      bool r = epee::net_utils::invoke_http_json("/gettransactions", req, res, *m_http_client, rpc_timeout);
-      THROW_ON_RPC_RESPONSE_ERROR_GENERIC(r, {}, res, "/gettransactions");
-      THROW_WALLET_EXCEPTION_IF(res.txs.size() != req.txs_hashes.size(), error::wallet_internal_error,
-        "daemon returned wrong response for gettransactions, wrong txs count = " +
-        std::to_string(res.txs.size()) + ", expected " + std::to_string(req.txs_hashes.size()));
-      check_rpc_cost("/gettransactions", res.credits, pre_call_credits, res.txs.size() * COST_PER_TX);
-    }
-
-    MDEBUG("Scanning " << res.txs.size() << " transactions");
-    THROW_WALLET_EXCEPTION_IF(slice + res.txs.size() > txs_hashes.size(), error::wallet_internal_error, "Unexpected tx array size");
-    for (size_t i = 0; i < res.txs.size(); ++i, ++it)
-    {
-    const auto &tx_info = res.txs[i];
-      cryptonote::transaction tx;
-      crypto::hash tx_hash;
-      THROW_WALLET_EXCEPTION_IF(!get_pruned_tx(tx_info, tx, tx_hash), error::wallet_internal_error,
-          "Failed to get transaction from daemon");
-      THROW_WALLET_EXCEPTION_IF(!(tx_hash == *it), error::wallet_internal_error, "Wrong txid received");
-      THROW_WALLET_EXCEPTION_IF(!add_rings(get_ringdb_key(), tx), error::wallet_internal_error, "Failed to save ring");
-    }
-  }
-
-  MINFO("Found and saved rings for " << txs_hashes.size() << " transactions");
   m_ring_history_saved = true;
   return true;
 }
diff --git a/src/wallet/wallet2.h b/src/wallet/wallet2.h
index 187f6ccc3c..66c244bd18 100644
--- a/src/wallet/wallet2.h
+++ b/src/wallet/wallet2.h
@@ -1767,7 +1767,7 @@ private:
     bool set_rings(const std::vector<std::pair<crypto::key_image, std::vector<uint64_t>>> &rings, bool relative);
     bool unset_ring(const std::vector<crypto::key_image> &key_images);
     bool unset_ring(const crypto::hash &txid);
-    bool find_and_save_rings(bool force = true);
+    [[deprecated]] bool find_and_save_rings(bool force = true);
 
     bool blackball_output(const std::pair<uint64_t, uint64_t> &output);
     bool set_blackballed_outputs(const std::vector<std::pair<uint64_t, uint64_t>> &outputs, bool add = false);