diff --git a/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeListScreen.kt b/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeListScreen.kt
index 7f64d6db..b297c048 100644
--- a/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeListScreen.kt
+++ b/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeListScreen.kt
@@ -98,6 +98,7 @@ fun ExchangeListScreen(
     var addInProgress by remember { mutableStateOf(false) }
     var addErrorMessage by remember { mutableStateOf<String?>(null) }
     var exchangeToDelete by remember { mutableStateOf<ExchangeItem?>(null) }
+    var exchangeKeyChange by remember { mutableStateOf<ExchangeItem?>(null) }
 
     val addErrorText = stringResource(R.string.exchange_add_error)
 
@@ -168,6 +169,8 @@ fun ExchangeListScreen(
                         onAction = { action ->
                             if (action == ExchangeAction.Delete) {
                                 exchangeToDelete = exchange
+                            } else if (action == ExchangeAction.ReviewKeyChange) {
+                                exchangeKeyChange = exchange
                             } else {
                                 handleExchangeAction(
                                     scope = scope,
@@ -202,6 +205,19 @@ fun ExchangeListScreen(
         )
     }
 
+    exchangeKeyChange?.let { exchange ->
+        val keyChange = exchange.unconfirmedKeyChange
+        if (keyChange != null) ExchangeKeyChangeDialog(
+            exchange = exchange,
+            keyChange = keyChange,
+            onDismiss = { exchangeKeyChange = null },
+            onConfirm = {
+                exchangeManager.confirmKeyChange(exchange.exchangeBaseUrl, keyChange.currentMasterPub)
+                exchangeKeyChange = null
+            },
+        )
+    }
+
     if (exchangeToDelete != null) {
         DeleteExchangeDialog(
             onDismiss = {
@@ -235,6 +251,13 @@ fun ExchangeItemComposable(
                 stringResource(R.string.exchange_list_currency, it)
             } ?: stringResource(R.string.exchange_not_contacted)
             Text(text = currencyText, style = MaterialTheme.typography.bodyMedium)
+            if (exchange.unconfirmedKeyChange != null) {
+                Text(
+                    text = stringResource(R.string.exchange_key_change_warning),
+                    style = MaterialTheme.typography.bodyMedium,
+                    color = MaterialTheme.colorScheme.error,
+                )
+            }
         }
         if (exchange.currency != null) {
             Box {
@@ -268,6 +291,13 @@ fun ExchangeDropDownMenu(
     onAction: (ExchangeAction) -> Unit,
 ) {
     DropdownMenu(expanded = expanded, onDismissRequest = onDismissRequest) {
+        if (exchange.unconfirmedKeyChange != null) {
+            DropdownMenuItem(
+                text = { Text(stringResource(R.string.exchange_key_change_review)) },
+                onClick = { onAction(ExchangeAction.ReviewKeyChange) }
+            )
+        }
+
         DropdownMenuItem(
             text = { Text(stringResource(R.string.exchange_reload)) },
             onClick = { onAction(ExchangeAction.Reload) }
@@ -408,7 +438,45 @@ fun DeleteExchangeDialog(
     )
 }
 
+@Composable
+fun ExchangeKeyChangeDialog(
+    exchange: ExchangeItem,
+    keyChange: ExchangeKeyChangeInfo,
+    onDismiss: () -> Unit,
+    onConfirm: () -> Unit,
+) {
+    AlertDialog(
+        onDismissRequest = onDismiss,
+        title = { Text(stringResource(R.string.exchange_key_change_title)) },
+        text = {
+            Column {
+                Text(stringResource(R.string.exchange_key_change_message, exchange.name))
+                Text(
+                    modifier = Modifier.padding(top = 16.dp),
+                    text = stringResource(
+                        R.string.exchange_key_change_keys,
+                        keyChange.supersededMasterPub,
+                        keyChange.currentMasterPub,
+                    ),
+                    style = MaterialTheme.typography.bodySmall,
+                )
+            }
+        },
+        confirmButton = {
+            TextButton(onClick = onConfirm) {
+                Text(stringResource(R.string.exchange_key_change_accept))
+            }
+        },
+        dismissButton = {
+            TextButton(onClick = onDismiss) {
+                Text(stringResource(R.string.cancel))
+            }
+        }
+    )
+}
+
 enum class ExchangeAction {
+    ReviewKeyChange,
     Reload,
     ViewTos,
     AcceptTos,
@@ -427,6 +495,7 @@ fun handleExchangeAction(
     onNavigate: NavigateCallback,
 ) {
     when (action) {
+        ExchangeAction.ReviewKeyChange -> {} // dialog shown by ExchangeListScreen
         ExchangeAction.Reload -> exchangeManager.reload(exchange.exchangeBaseUrl)
         ExchangeAction.ViewTos -> {
             onNavigate(WalletDestination.ReviewExchangeTOS(exchange.exchangeBaseUrl, true), false)
diff --git a/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeManager.kt b/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeManager.kt
index 5dfc8b62..7453b5ec 100644
--- a/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeManager.kt
+++ b/wallet/src/main/java/net/taler/wallet/exchanges/ExchangeManager.kt
@@ -152,6 +152,21 @@ class ExchangeManager(
         }
     }
 
+    fun confirmKeyChange(exchangeUrl: String, currentMasterPub: String) = scope.launch {
+        mProgress.value = true
+        api.request<Unit>("confirmExchangeKeyChange") {
+            put("exchangeBaseUrl", exchangeUrl)
+            put("currentMasterPub", currentMasterPub)
+        }.onError {
+            Log.e(TAG, "Error confirming key change: $it")
+            mProgress.value = false
+            mReloadError.value = it.toEvent()
+        }.onSuccess {
+            mProgress.value = false
+            list()
+        }
+    }
+
     fun findExchangeForCurrency(currency: String): Flow<ExchangeItem?> = flow {
         emit(findExchangeByCurrency(currency))
     }
diff --git a/wallet/src/main/java/net/taler/wallet/exchanges/Exchanges.kt b/wallet/src/main/java/net/taler/wallet/exchanges/Exchanges.kt
index d110f044..ea1060f0 100644
--- a/wallet/src/main/java/net/taler/wallet/exchanges/Exchanges.kt
+++ b/wallet/src/main/java/net/taler/wallet/exchanges/Exchanges.kt
@@ -36,10 +36,18 @@ data class ExchangeItem(
     val paytoUris: List<String>,
     val scopeInfo: ScopeInfo? = null,
     val tosStatus: ExchangeTosStatus = ExchangeTosStatus.Unknown,
+    /** set when the exchange's master key changed and the user has not confirmed it yet */
+    val unconfirmedKeyChange: ExchangeKeyChangeInfo? = null,
 ) {
     val name: String get() = cleanExchange(exchangeBaseUrl)
 }
 
+@Serializable
+data class ExchangeKeyChangeInfo(
+    val currentMasterPub: String,
+    val supersededMasterPub: String,
+)
+
 @Serializable
 enum class ExchangeTosStatus {
     Unknown,
diff --git a/wallet/src/main/res/values/strings.xml b/wallet/src/main/res/values/strings.xml
index 89750709..731ab51a 100644
--- a/wallet/src/main/res/values/strings.xml
+++ b/wallet/src/main/res/values/strings.xml
@@ -470,6 +470,12 @@ GNU Taler is immune to many types of fraud such as credit card data theft, phish
     <string name="exchange_list_title">Payment services</string>
     <string name="exchange_menu_manual_withdraw">Withdraw</string>
     <string name="exchange_not_contacted">Payment service not contacted</string>
+    <string name="exchange_key_change_warning">Security identity changed, review it before using this payment service</string>
+    <string name="exchange_key_change_review">Review identity change</string>
+    <string name="exchange_key_change_title">Security alert</string>
+    <string name="exchange_key_change_message">The security identity of %1$s has changed unexpectedly. Only trust the new identity if the payment service has confirmed this change. Otherwise, wait and try again later.</string>
+    <string name="exchange_key_change_keys">Previous key: %1$s\nCurrent key: %2$s</string>
+    <string name="exchange_key_change_accept">Accept new identity</string>
     <string name="exchange_reload">Reload information</string>
     <string name="exchange_settings_summary">Manage the payment services known to this wallet</string>
     <string name="exchange_settings_title">Payment services</string>