diff --git a/packages/hardhat/hardhat.config.ts b/packages/hardhat/hardhat.config.ts
index fd4a6d41a..4bbddc054 100644
--- a/packages/hardhat/hardhat.config.ts
+++ b/packages/hardhat/hardhat.config.ts
@@ -13,8 +13,7 @@ import { task } from "hardhat/config";
 import generateTsAbis from "./scripts/generateTsAbis";
 
 // If not set, it uses the hardhat account 0 private key.
-const deployerPrivateKey =
-  process.env.DEPLOYER_PRIVATE_KEY ?? "0xac0974bec39a17e36ba4a6b4d238ff944bacb478cbed5efcae784d7bf4f2ff80";
+const deployerPrivateKey = "0xac0974bec39a17e36ba4a6b4d238ff944bacb478cbed5efcae784d7bf4f2ff80";
 // If not set, it uses our block explorers default API keys.
 const etherscanApiKey = process.env.ETHERSCAN_MAINNET_API_KEY || "DNXJA8RX2Q3VZ4URQIWP7Z68CJXQZSC6AW";
 const etherscanOptimisticApiKey = process.env.ETHERSCAN_OPTIMISTIC_API_KEY || "RM62RDISS1RH448ZY379NX625ASG1N633R";
diff --git a/packages/hardhat/package.json b/packages/hardhat/package.json
index 2a17b3ebe..5791678ab 100644
--- a/packages/hardhat/package.json
+++ b/packages/hardhat/package.json
@@ -49,6 +49,7 @@
     "typescript": "<5.6.0"
   },
   "dependencies": {
+    "@inquirer/password": "^4.0.2",
     "@openzeppelin/contracts": "^5.0.2",
     "@typechain/ethers-v6": "^0.5.1",
     "dotenv": "^16.4.5",
diff --git a/packages/hardhat/scripts/generateAccount.ts b/packages/hardhat/scripts/generateAccount.ts
index 5de8e458c..1fc127ccb 100644
--- a/packages/hardhat/scripts/generateAccount.ts
+++ b/packages/hardhat/scripts/generateAccount.ts
@@ -1,42 +1,55 @@
 import { ethers } from "ethers";
 import { parse, stringify } from "envfile";
 import * as fs from "fs";
+import password from "@inquirer/password";
 
 const envFilePath = "./.env";
 
-/**
- * Generate a new random private key and write it to the .env file
- */
-const setNewEnvConfig = (existingEnvConfig = {}) => {
-  console.log("👛 Generating new Wallet");
+const getValidatedPassword = async () => {
+  while (true) {
+    const pass = await password({ message: "Enter a password to encrypt your private key:", mask: true });
+    const confirmation = await password({ message: "Confirm password:", mask: true });
+
+    if (pass === confirmation) {
+      return pass;
+    }
+    console.log("❌ Passwords don't match. Please try again.");
+  }
+};
+
+const setNewEnvConfig = async (existingEnvConfig = {}) => {
+  console.log("👛 Generating new Wallet\n");
   const randomWallet = ethers.Wallet.createRandom();
 
+  const pass = await getValidatedPassword();
+  const encryptedJson = await randomWallet.encrypt(pass);
+
   const newEnvConfig = {
     ...existingEnvConfig,
-    DEPLOYER_PRIVATE_KEY: randomWallet.privateKey,
+    DEPLOYER_PRIVATE_KEY: encryptedJson,
   };
 
   // Store in .env
   fs.writeFileSync(envFilePath, stringify(newEnvConfig));
-  console.log("📄 Private Key saved to packages/hardhat/.env file");
-  console.log("🪄 Generated wallet address:", randomWallet.address);
+  console.log("\n📄 Encrypted Private Key saved to packages/hardhat/.env file");
+  console.log("🪄 Generated wallet address:", randomWallet.address, "\n");
+  console.log("⚠️ Make sure to remember your password! You'll need it to decrypt the private key.");
 };
 
 async function main() {
   if (!fs.existsSync(envFilePath)) {
     // No .env file yet.
-    setNewEnvConfig();
+    await setNewEnvConfig();
     return;
   }
 
-  // .env file exists
   const existingEnvConfig = parse(fs.readFileSync(envFilePath).toString());
   if (existingEnvConfig.DEPLOYER_PRIVATE_KEY) {
     console.log("⚠️ You already have a deployer account. Check the packages/hardhat/.env file");
     return;
   }
 
-  setNewEnvConfig(existingEnvConfig);
+  await setNewEnvConfig(existingEnvConfig);
 }
 
 main().catch(error => {
diff --git a/packages/hardhat/scripts/listAccount.ts b/packages/hardhat/scripts/listAccount.ts
index 4fc5f2da1..84273dd32 100644
--- a/packages/hardhat/scripts/listAccount.ts
+++ b/packages/hardhat/scripts/listAccount.ts
@@ -3,17 +3,26 @@ dotenv.config();
 import { ethers, Wallet } from "ethers";
 import QRCode from "qrcode";
 import { config } from "hardhat";
+import password from "@inquirer/password";
 
 async function main() {
-  const privateKey = process.env.DEPLOYER_PRIVATE_KEY;
+  const encryptedKey = process.env.DEPLOYER_PRIVATE_KEY;
 
-  if (!privateKey) {
+  if (!encryptedKey) {
     console.log("🚫️ You don't have a deployer account. Run `yarn generate` first");
     return;
   }
 
-  // Get account from private key.
-  const wallet = new Wallet(privateKey);
+  const pass = await password({ message: "Enter your password to decrypt the private key:", mask: true });
+  let wallet: Wallet;
+  try {
+    wallet = (await Wallet.fromEncryptedJson(encryptedKey, pass)) as Wallet;
+    // eslint-disable-next-line @typescript-eslint/no-unused-vars
+  } catch (e) {
+    console.log("❌ Failed to decrypt private key. Wrong password?");
+    return;
+  }
+
   const address = wallet.address;
   console.log(await QRCode.toString(address, { type: "terminal", small: true }));
   console.log("Public address:", address, "\n");
diff --git a/yarn.lock b/yarn.lock
index 0260af23f..e0d7cca62 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -903,6 +903,52 @@ __metadata:
   languageName: node
   linkType: hard
 
+"@inquirer/core@npm:^10.1.0":
+  version: 10.1.0
+  resolution: "@inquirer/core@npm:10.1.0"
+  dependencies:
+    "@inquirer/figures": ^1.0.8
+    "@inquirer/type": ^3.0.1
+    ansi-escapes: ^4.3.2
+    cli-width: ^4.1.0
+    mute-stream: ^2.0.0
+    signal-exit: ^4.1.0
+    strip-ansi: ^6.0.1
+    wrap-ansi: ^6.2.0
+    yoctocolors-cjs: ^2.1.2
+  checksum: c52be9ef04497a2b82ed6b1258ebd24ad0950b4b83a96e6fbde1a801eeced4e4b32ed5b2217eac98e504cc1d16ddc8d9d39243c96bdb5390ff13629b28c96591
+  languageName: node
+  linkType: hard
+
+"@inquirer/figures@npm:^1.0.8":
+  version: 1.0.8
+  resolution: "@inquirer/figures@npm:1.0.8"
+  checksum: 24c5c70f49a5f0e9d38f5552fb6936c258d2fc545f6a4944b17ba357c9ca4a729e8cffd77666971554ebc2a57948cfe5003331271a259c406b3f2de0e9c559b7
+  languageName: node
+  linkType: hard
+
+"@inquirer/password@npm:^4.0.2":
+  version: 4.0.2
+  resolution: "@inquirer/password@npm:4.0.2"
+  dependencies:
+    "@inquirer/core": ^10.1.0
+    "@inquirer/type": ^3.0.1
+    ansi-escapes: ^4.3.2
+  peerDependencies:
+    "@types/node": ">=18"
+  checksum: 69dc3986098cdfb4ed73653b690f7db7d88e483fdd9026b7308d1f6ff1208e5a7599f8c49910735e1fd8008fb367a9bf8f0ff80e7551831c6de15733980277af
+  languageName: node
+  linkType: hard
+
+"@inquirer/type@npm:^3.0.1":
+  version: 3.0.1
+  resolution: "@inquirer/type@npm:3.0.1"
+  peerDependencies:
+    "@types/node": ">=18"
+  checksum: af412f1e7541d43554b02199ae71a2039a1bff5dc51ceefd87de9ece55b199682733b28810fb4b6cb3ed4a159af4cc4a26d4bb29c58dd127e7d9dbda0797d8e7
+  languageName: node
+  linkType: hard
+
 "@ioredis/commands@npm:^1.1.1":
   version: 1.2.0
   resolution: "@ioredis/commands@npm:1.2.0"
@@ -2264,6 +2310,7 @@ __metadata:
   dependencies:
     "@ethersproject/abi": ^5.7.0
     "@ethersproject/providers": ^5.7.2
+    "@inquirer/password": ^4.0.2
     "@nomicfoundation/hardhat-chai-matchers": ^2.0.7
     "@nomicfoundation/hardhat-ethers": ^3.0.8
     "@nomicfoundation/hardhat-network-helpers": ^1.0.11
@@ -4063,7 +4110,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"ansi-escapes@npm:^4.3.0":
+"ansi-escapes@npm:^4.3.0, ansi-escapes@npm:^4.3.2":
   version: 4.3.2
   resolution: "ansi-escapes@npm:4.3.2"
   dependencies:
@@ -5066,6 +5113,13 @@ __metadata:
   languageName: node
   linkType: hard
 
+"cli-width@npm:^4.1.0":
+  version: 4.1.0
+  resolution: "cli-width@npm:4.1.0"
+  checksum: 0a79cff2dbf89ef530bcd54c713703ba94461457b11e5634bd024c78796ed21401e32349c004995954e06f442d82609287e7aabf6a5f02c919a1cf3b9b6854ff
+  languageName: node
+  linkType: hard
+
 "client-only@npm:0.0.1":
   version: 0.0.1
   resolution: "client-only@npm:0.0.1"
@@ -9971,6 +10025,13 @@ __metadata:
   languageName: node
   linkType: hard
 
+"mute-stream@npm:^2.0.0":
+  version: 2.0.0
+  resolution: "mute-stream@npm:2.0.0"
+  checksum: d2e4fd2f5aa342b89b98134a8d899d8ef9b0a6d69274c4af9df46faa2d97aeb1f2ce83d867880d6de63643c52386579b99139801e24e7526c3b9b0a6d1e18d6c
+  languageName: node
+  linkType: hard
+
 "mz@npm:^2.7.0":
   version: 2.7.0
   resolution: "mz@npm:2.7.0"
@@ -14353,6 +14414,13 @@ __metadata:
   languageName: node
   linkType: hard
 
+"yoctocolors-cjs@npm:^2.1.2":
+  version: 2.1.2
+  resolution: "yoctocolors-cjs@npm:2.1.2"
+  checksum: 1c474d4b30a8c130e679279c5c2c33a0d48eba9684ffa0252cc64846c121fb56c3f25457fef902edbe1e2d7a7872130073a9fc8e795299d75e13fa3f5f548f1b
+  languageName: node
+  linkType: hard
+
 "zksync-ethers@npm:^5.0.0":
   version: 5.9.2
   resolution: "zksync-ethers@npm:5.9.2"