diff --git a/drongo b/drongo
index c675e395..242c8373 160000
--- a/drongo
+++ b/drongo
@@ -1 +1 @@
-Subproject commit c675e395dbbf386d2371ac3819b2a4539bf25e95
+Subproject commit 242c83735a24456a4bd23fd556a56122c9b259ab
diff --git a/src/main/java/com/sparrowwallet/sparrow/control/FileKeystoreImportPane.java b/src/main/java/com/sparrowwallet/sparrow/control/FileKeystoreImportPane.java
index de4fb658..2882d38c 100644
--- a/src/main/java/com/sparrowwallet/sparrow/control/FileKeystoreImportPane.java
+++ b/src/main/java/com/sparrowwallet/sparrow/control/FileKeystoreImportPane.java
@@ -1,7 +1,7 @@
 package com.sparrowwallet.sparrow.control;
 
 import com.google.gson.JsonParseException;
-import com.sparrowwallet.drongo.crypto.ECKey;
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.wallet.Keystore;
 import com.sparrowwallet.drongo.wallet.Wallet;
 import com.sparrowwallet.sparrow.EventManager;
@@ -83,7 +83,7 @@ public class FileKeystoreImportPane extends KeystoreImportPane {
                 if(e.getCause() != null && e.getCause().getMessage() != null && !e.getCause().getMessage().isEmpty()) {
                     errorMessage = e.getCause().getMessage();
                 }
-                if(e instanceof ECKey.InvalidPasswordException || e.getCause() instanceof ECKey.InvalidPasswordException) {
+                if(e instanceof ECIESKeyCrypter.InvalidPasswordException || e.getCause() instanceof ECIESKeyCrypter.InvalidPasswordException) {
                     errorMessage = "Invalid wallet password";
                 }
                 if(e instanceof JsonParseException || e.getCause() instanceof JsonParseException) {
diff --git a/src/main/java/com/sparrowwallet/sparrow/io/Bip39.java b/src/main/java/com/sparrowwallet/sparrow/io/Bip39.java
index 85f9f944..ffbcae9c 100644
--- a/src/main/java/com/sparrowwallet/sparrow/io/Bip39.java
+++ b/src/main/java/com/sparrowwallet/sparrow/io/Bip39.java
@@ -2,6 +2,7 @@ package com.sparrowwallet.sparrow.io;
 
 import com.sparrowwallet.drongo.crypto.ChildNumber;
 import com.sparrowwallet.drongo.wallet.Bip39MnemonicCode;
+import com.sparrowwallet.drongo.wallet.DeterministicSeed;
 import com.sparrowwallet.drongo.wallet.Keystore;
 import com.sparrowwallet.drongo.wallet.WalletModel;
 
@@ -27,7 +28,7 @@ public class Bip39 implements KeystoreMnemonicImport {
     public Keystore getKeystore(List<ChildNumber> derivation, List<String> mnemonicWords, String passphrase) throws ImportException {
         try {
             Bip39MnemonicCode.INSTANCE.check(mnemonicWords);
-            byte[] seed = Bip39MnemonicCode.toSeed(mnemonicWords, passphrase);
+            DeterministicSeed seed = new DeterministicSeed(mnemonicWords, null, passphrase, System.currentTimeMillis());
             return Keystore.fromSeed(seed, derivation);
         } catch (Exception e) {
             throw new ImportException(e);
diff --git a/src/main/java/com/sparrowwallet/sparrow/io/ECIESInputStream.java b/src/main/java/com/sparrowwallet/sparrow/io/ECIESInputStream.java
index 377dfdad..0c08667f 100644
--- a/src/main/java/com/sparrowwallet/sparrow/io/ECIESInputStream.java
+++ b/src/main/java/com/sparrowwallet/sparrow/io/ECIESInputStream.java
@@ -1,7 +1,9 @@
 package com.sparrowwallet.sparrow.io;
 
 import com.google.common.io.ByteStreams;
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
+import com.sparrowwallet.drongo.crypto.EncryptedData;
 
 import java.io.*;
 import java.nio.charset.StandardCharsets;
@@ -38,9 +40,11 @@ public class ECIESInputStream extends FilterInputStream {
 
     private synchronized void ensureDecrypted() throws IOException {
         if(!decrypted) {
-            byte[] encrypted = ByteStreams.toByteArray(in);
+            byte[] encryptedBytes = ByteStreams.toByteArray(in);
             in.close();
-            in = new ByteArrayInputStream(decryptionKey.decryptEcies(encrypted, encryptionMagic));
+            ECIESKeyCrypter keyCrypter = new ECIESKeyCrypter();
+            byte[] decryptedBytes = keyCrypter.decrypt(new EncryptedData(encryptionMagic, encryptedBytes), decryptionKey);
+            in = new ByteArrayInputStream(decryptedBytes);
             decrypted = true;
         }
     }
diff --git a/src/main/java/com/sparrowwallet/sparrow/io/ECIESOutputStream.java b/src/main/java/com/sparrowwallet/sparrow/io/ECIESOutputStream.java
index 170c2c09..2c8ecfc5 100644
--- a/src/main/java/com/sparrowwallet/sparrow/io/ECIESOutputStream.java
+++ b/src/main/java/com/sparrowwallet/sparrow/io/ECIESOutputStream.java
@@ -1,7 +1,9 @@
 package com.sparrowwallet.sparrow.io;
 
 import com.google.common.io.ByteStreams;
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
+import com.sparrowwallet.drongo.crypto.EncryptedData;
 
 import java.io.*;
 import java.nio.charset.StandardCharsets;
@@ -32,8 +34,9 @@ public class ECIESOutputStream extends FilterOutputStream {
     public void close() throws IOException {
         super.close();
         byte[] unencrypted = ((ByteArrayOutputStream)out).toByteArray();
-        byte[] encryptedWallet = encryptionKey.encryptEcies(unencrypted, encryptionMagic);
-        ByteStreams.copy(new ByteArrayInputStream(encryptedWallet), encryptedStream);
+        ECIESKeyCrypter keyCrypter = new ECIESKeyCrypter();
+        EncryptedData encryptedData = keyCrypter.encrypt(unencrypted, encryptionMagic, encryptionKey);
+        ByteStreams.copy(new ByteArrayInputStream(encryptedData.getEncryptedBytes()), encryptedStream);
         encryptedStream.flush();
         encryptedStream.close();
     }
diff --git a/src/main/java/com/sparrowwallet/sparrow/io/Electrum.java b/src/main/java/com/sparrowwallet/sparrow/io/Electrum.java
index e00e428f..f8690795 100644
--- a/src/main/java/com/sparrowwallet/sparrow/io/Electrum.java
+++ b/src/main/java/com/sparrowwallet/sparrow/io/Electrum.java
@@ -5,6 +5,7 @@ import com.google.gson.reflect.TypeToken;
 import com.sparrowwallet.drongo.ExtendedKey;
 import com.sparrowwallet.drongo.KeyDerivation;
 import com.sparrowwallet.drongo.Utils;
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
 import com.sparrowwallet.drongo.policy.Policy;
 import com.sparrowwallet.drongo.policy.PolicyType;
@@ -57,7 +58,7 @@ public class Electrum implements KeystoreFileImport, SinglesigWalletImport, Mult
     public Wallet importWallet(InputStream inputStream, String password) throws ImportException {
         Reader reader;
         if(password != null) {
-            ECKey decryptionKey = ECKey.createKeyPbkdf2HmacSha512(password);
+            ECKey decryptionKey = ECIESKeyCrypter.deriveECKey(password);
             reader = new InputStreamReader(new InflaterInputStream(new ECIESInputStream(inputStream, decryptionKey)));
         } else {
             reader = new InputStreamReader(inputStream);
diff --git a/src/main/java/com/sparrowwallet/sparrow/io/Storage.java b/src/main/java/com/sparrowwallet/sparrow/io/Storage.java
index cee50e94..9b348c40 100644
--- a/src/main/java/com/sparrowwallet/sparrow/io/Storage.java
+++ b/src/main/java/com/sparrowwallet/sparrow/io/Storage.java
@@ -79,7 +79,7 @@ public class Storage {
     }
 
     private static byte[] getEncryptionMagic() {
-        return "SPRW1".getBytes(StandardCharsets.UTF_8);
+        return "BIE1".getBytes(StandardCharsets.UTF_8);
     }
 
     public File getWalletFile(String walletName) {
diff --git a/src/main/java/com/sparrowwallet/sparrow/wallet/SettingsController.java b/src/main/java/com/sparrowwallet/sparrow/wallet/SettingsController.java
index 4b28a019..b8d051cb 100644
--- a/src/main/java/com/sparrowwallet/sparrow/wallet/SettingsController.java
+++ b/src/main/java/com/sparrowwallet/sparrow/wallet/SettingsController.java
@@ -1,6 +1,7 @@
 package com.sparrowwallet.sparrow.wallet;
 
 import com.google.common.eventbus.Subscribe;
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
 import com.sparrowwallet.drongo.policy.Policy;
 import com.sparrowwallet.drongo.policy.PolicyType;
@@ -279,7 +280,7 @@ public class SettingsController extends WalletFormController implements Initiali
                 return Optional.of(WalletForm.NO_PASSWORD_KEY);
             }
 
-            ECKey encryptionFullKey = ECKey.createKeyPbkdf2HmacSha512(password.get());
+            ECKey encryptionFullKey = ECIESKeyCrypter.deriveECKey(password.get());
             ECKey encryptionPubKey = ECKey.fromPublicOnly(encryptionFullKey);
             if(existingPubKey != null) {
                 if(WalletForm.NO_PASSWORD_KEY.equals(existingPubKey) || existingPubKey.equals(encryptionPubKey)) {
diff --git a/src/main/java/com/sparrowwallet/sparrow/wallet/WalletForm.java b/src/main/java/com/sparrowwallet/sparrow/wallet/WalletForm.java
index c9f90f50..caf94770 100644
--- a/src/main/java/com/sparrowwallet/sparrow/wallet/WalletForm.java
+++ b/src/main/java/com/sparrowwallet/sparrow/wallet/WalletForm.java
@@ -1,5 +1,6 @@
 package com.sparrowwallet.sparrow.wallet;
 
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
 import com.sparrowwallet.drongo.wallet.Wallet;
 import com.sparrowwallet.sparrow.io.Storage;
@@ -8,7 +9,7 @@ import java.io.File;
 import java.io.IOException;
 
 public class WalletForm {
-    public static final ECKey NO_PASSWORD_KEY = ECKey.fromPublicOnly(ECKey.createKeyPbkdf2HmacSha512(""));
+    public static final ECKey NO_PASSWORD_KEY = ECKey.fromPublicOnly(ECIESKeyCrypter.deriveECKey(""));
 
     private File walletFile;
     private ECKey encryptionPubKey;
diff --git a/src/test/java/com/sparrowwallet/sparrow/io/ECIESInputStreamTest.java b/src/test/java/com/sparrowwallet/sparrow/io/ECIESInputStreamTest.java
index d3de15e9..30b9c323 100644
--- a/src/test/java/com/sparrowwallet/sparrow/io/ECIESInputStreamTest.java
+++ b/src/test/java/com/sparrowwallet/sparrow/io/ECIESInputStreamTest.java
@@ -1,5 +1,6 @@
 package com.sparrowwallet.sparrow.io;
 
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
 import com.sparrowwallet.drongo.policy.PolicyType;
 import com.sparrowwallet.drongo.protocol.ScriptType;
@@ -13,7 +14,7 @@ public class ECIESInputStreamTest extends IoTest {
     @Test
     public void decrypt() throws ImportException {
         Electrum electrum = new Electrum();
-        ECKey decryptionKey = ECKey.createKeyPbkdf2HmacSha512("pass");
+        ECKey decryptionKey = ECIESKeyCrypter.deriveECKey("pass");
         Wallet wallet = electrum.importWallet(new InflaterInputStream(new ECIESInputStream(getInputStream("electrum-encrypted"), decryptionKey)), null);
 
         Assert.assertEquals(PolicyType.SINGLE, wallet.getPolicyType());
diff --git a/src/test/java/com/sparrowwallet/sparrow/io/ECIESOutputStreamTest.java b/src/test/java/com/sparrowwallet/sparrow/io/ECIESOutputStreamTest.java
index 105be2b6..f446ddaf 100644
--- a/src/test/java/com/sparrowwallet/sparrow/io/ECIESOutputStreamTest.java
+++ b/src/test/java/com/sparrowwallet/sparrow/io/ECIESOutputStreamTest.java
@@ -1,5 +1,6 @@
 package com.sparrowwallet.sparrow.io;
 
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
 import com.sparrowwallet.drongo.policy.PolicyType;
 import com.sparrowwallet.drongo.protocol.ScriptType;
@@ -16,7 +17,7 @@ public class ECIESOutputStreamTest extends IoTest {
     @Test
     public void encrypt() throws ImportException, ExportException {
         Electrum electrum = new Electrum();
-        ECKey decryptionKey = ECKey.createKeyPbkdf2HmacSha512("pass");
+        ECKey decryptionKey = ECIESKeyCrypter.deriveECKey("pass");
         Wallet wallet = electrum.importWallet(new InflaterInputStream(new ECIESInputStream(getInputStream("electrum-encrypted"), decryptionKey)), null);
 
         ECKey encyptionKey = ECKey.fromPublicOnly(decryptionKey);
diff --git a/src/test/java/com/sparrowwallet/sparrow/io/ElectrumTest.java b/src/test/java/com/sparrowwallet/sparrow/io/ElectrumTest.java
index a9e38e61..4404d974 100644
--- a/src/test/java/com/sparrowwallet/sparrow/io/ElectrumTest.java
+++ b/src/test/java/com/sparrowwallet/sparrow/io/ElectrumTest.java
@@ -83,4 +83,20 @@ public class ElectrumTest extends IoTest {
         Assert.assertEquals("7bb026be", wallet.getKeystores().get(2).getKeyDerivation().getMasterFingerprint());
         Assert.assertEquals("m/48'/1'/0'/1'", wallet.getKeystores().get(2).getKeyDerivation().getDerivationPath());
     }
+
+    @Test
+    public void testEncryptedImport() throws ImportException, IOException {
+        Electrum electrum = new Electrum();
+        byte[] walletBytes = ByteStreams.toByteArray(getInputStream("electrum-encrypted"));
+        Wallet wallet = electrum.importWallet(new ByteArrayInputStream(walletBytes), "pass");
+
+        Assert.assertTrue(wallet.isValid());
+        Assert.assertEquals(PolicyType.SINGLE, wallet.getPolicyType());
+        Assert.assertEquals(ScriptType.P2WPKH, wallet.getScriptType());
+        Assert.assertEquals(1, wallet.getDefaultPolicy().getNumSignaturesRequired());
+        Assert.assertEquals("pkh(electrum05aba071)", wallet.getDefaultPolicy().getMiniscript().getScript());
+        Assert.assertEquals("05aba071", wallet.getKeystores().get(0).getKeyDerivation().getMasterFingerprint());
+        Assert.assertEquals("m/0'", wallet.getKeystores().get(0).getKeyDerivation().getDerivationPath());
+        Assert.assertEquals("xpub67vv394epQsLhdjNGx7dfgURicP7XwBMuHPTVAMdXcXhDuC9VP8SqVvh2cYqKWm9xoUd6YynWK8JzRcXpmeuZFRH7i1kt8fR9GXoJSiHk1E", wallet.getKeystores().get(0).getExtendedPublicKey().toString());
+    }
 }
diff --git a/src/test/java/com/sparrowwallet/sparrow/io/StorageTest.java b/src/test/java/com/sparrowwallet/sparrow/io/StorageTest.java
index 760c9c43..8ee7a2d6 100644
--- a/src/test/java/com/sparrowwallet/sparrow/io/StorageTest.java
+++ b/src/test/java/com/sparrowwallet/sparrow/io/StorageTest.java
@@ -1,5 +1,6 @@
 package com.sparrowwallet.sparrow.io;
 
+import com.sparrowwallet.drongo.crypto.ECIESKeyCrypter;
 import com.sparrowwallet.drongo.crypto.ECKey;
 import com.sparrowwallet.drongo.wallet.Wallet;
 import org.junit.Assert;
@@ -12,14 +13,14 @@ import java.io.IOException;
 public class StorageTest extends IoTest {
     @Test
     public void loadWallet() throws IOException {
-        ECKey decryptionKey = ECKey.createKeyPbkdf2HmacSha512("pass");
+        ECKey decryptionKey = ECIESKeyCrypter.deriveECKey("pass");
         Wallet wallet = Storage.getStorage().loadWallet(getFile("sparrow-single-wallet"), decryptionKey);
         Assert.assertTrue(wallet.isValid());
     }
 
     @Test
     public void saveWallet() throws IOException {
-        ECKey decryptionKey = ECKey.createKeyPbkdf2HmacSha512("pass");
+        ECKey decryptionKey = ECIESKeyCrypter.deriveECKey("pass");
         Wallet wallet = Storage.getStorage().loadWallet(getFile("sparrow-single-wallet"), decryptionKey);
         Assert.assertTrue(wallet.isValid());