diff --git a/electrum/lnworker.py b/electrum/lnworker.py
index 1d80cd4b4..8534074af 100644
--- a/electrum/lnworker.py
+++ b/electrum/lnworker.py
@@ -1045,6 +1045,9 @@ class LNWallet(LNWorker):
     async def reestablish_peers_and_channels(self):
         while True:
             await asyncio.sleep(1)
+            # wait until on-chain state is synchronized
+            if not (self.wallet.is_up_to_date() and self.lnwatcher.is_up_to_date()):
+                continue
             with self.lock:
                 channels = list(self.channels.values())
             for chan in channels: