diff --git a/app/upgrades.go b/app/upgrades.go
index f6904c907c..51f052368c 100644
--- a/app/upgrades.go
+++ b/app/upgrades.go
@@ -58,16 +58,15 @@ func (app *UmeeApp) registerUpgrade4_1(_ upgradetypes.Plan) {
 			ctx.Logger().Info("Upgrade handler execution", "name", planName)
 			ctx.Logger().Info("Run v4.1 migration")
 			leverageUpgrader := leveragekeeper.NewMigrator(&app.LeverageKeeper)
-			err := leverageUpgrader.MigrateBNB(ctx)
+			migrated, err := leverageUpgrader.MigrateBNB(ctx)
 			if err != nil {
-				ctx.Logger().Error("Unable to run v4.1 leverage Migration!", "err", err)
+				ctx.Logger().Error("Error in v4.1 leverage Migration!", "err", err)
 				return fromVM, err
 			}
-			oracleUpgrader := oraclekeeper.NewMigrator(&app.OracleKeeper)
-			err = oracleUpgrader.MigrateBNB(ctx)
-			if err != nil {
-				ctx.Logger().Error("Unable to run v4.1 oracle Migration!", "err", err)
-				return fromVM, err
+			if migrated {
+				// If leverage BNB migration was skipped, also skip oracle so they stay in sync
+				oracleUpgrader := oraclekeeper.NewMigrator(&app.OracleKeeper)
+				oracleUpgrader.MigrateBNB(ctx)
 			}
 			return app.mm.RunMigrations(ctx, app.configurator, fromVM)
 		},
diff --git a/x/leverage/keeper/migrations.go b/x/leverage/keeper/migrations.go
index 21aec09a4e..cb7e7ad712 100644
--- a/x/leverage/keeper/migrations.go
+++ b/x/leverage/keeper/migrations.go
@@ -15,32 +15,32 @@ func NewMigrator(keeper *Keeper) Migrator {
 	return Migrator{keeper: keeper}
 }
 
-// MigrateBNB fixes the BNB base denom for the 4.1 upgrade
-func (m Migrator) MigrateBNB(ctx sdk.Context) error {
+// MigrateBNB fixes the BNB base denom for the 4.1 upgrade.
+// Also returns a boolean representing whether the token was changed.
+func (m Migrator) MigrateBNB(ctx sdk.Context) (bool, error) {
+	// Bad BNB token denom
 	badDenom := "ibc/77BCD42E49E5B7E0FC6B269FEBF0185B15044F13F6F38CA285DF0AF883459F40"
 	// Ensure zero supply of the token being removed from leverage registry
 	uSupply := m.keeper.GetUTokenSupply(ctx, types.ToUTokenDenom(badDenom))
 	if !uSupply.IsZero() {
-		return types.ErrBadSupplyDetected.Wrap(uSupply.String())
+		ctx.Logger().Error("can't correctly migrate leverage with existing supply",
+			"token", badDenom, "total_u_supply", uSupply)
+		return false, nil
 	}
-	// Get the existing BNB token settings
-	correctDenom := "ibc/8184469200C5E667794375F5B0EC3B9ABB6FF79082941BF5D0F8FF59FEBA862E"
 	token, err := m.keeper.GetTokenSettings(ctx, badDenom)
 	if err != nil {
-		return err
+		return false, err
 	}
-	// Modify base denom
-	token.BaseDenom = correctDenom
-	// Delete initial entry in token registry
+	// Delete previous entry in token registry
 	store := ctx.KVStore(m.keeper.storeKey)
-	badKey := types.KeyRegisteredToken(badDenom)
-	store.Delete(badKey)
-	// Add back to store, but bypass the hooks in SetRegisteredToken
-	trueKey := types.KeyRegisteredToken(correctDenom)
+	store.Delete(types.KeyRegisteredToken(badDenom))
+	// Modify base denom and add back to store, bypassing the hooks in SetRegisteredToken
+	correctDenom := "ibc/8184469200C5E667794375F5B0EC3B9ABB6FF79082941BF5D0F8FF59FEBA862E"
+	token.BaseDenom = correctDenom
 	bz, err := m.keeper.cdc.Marshal(&token)
 	if err != nil {
-		return err
+		return false, err
 	}
-	store.Set(trueKey, bz)
-	return nil
+	store.Set(types.KeyRegisteredToken(correctDenom), bz)
+	return true, nil
 }
diff --git a/x/leverage/types/errors.go b/x/leverage/types/errors.go
index 05bc42bfc5..773c9a1a2a 100644
--- a/x/leverage/types/errors.go
+++ b/x/leverage/types/errors.go
@@ -23,8 +23,7 @@ var (
 	ErrBlacklisted          = errors.Register(ModuleName, 205, "blacklisted Token")
 	ErrCollateralWeightZero = errors.Register(ModuleName, 206,
 		"collateral weight of Token is zero: can't be used as a collateral")
-	ErrDuplicateToken    = errors.Register(ModuleName, 207, "duplicate token")
-	ErrBadSupplyDetected = errors.Register(ModuleName, 208, "supply of a bad token detected")
+	ErrDuplicateToken = errors.Register(ModuleName, 207, "duplicate token")
 
 	// 3XX = User Positions
 	ErrInsufficientBalance    = errors.Register(ModuleName, 300, "insufficient balance")
diff --git a/x/oracle/keeper/migrations.go b/x/oracle/keeper/migrations.go
index 165484ae5b..55abc7ae70 100644
--- a/x/oracle/keeper/migrations.go
+++ b/x/oracle/keeper/migrations.go
@@ -34,7 +34,7 @@ func (m Migrator) HistoracleParams3x4(ctx sdk.Context) error {
 }
 
 // MigrateBNB fixes the BNB base denom for the 4.1 upgrade without using leverage hooks
-func (m Migrator) MigrateBNB(ctx sdk.Context) error {
+func (m Migrator) MigrateBNB(ctx sdk.Context) {
 	badDenom := "ibc/77BCD42E49E5B7E0FC6B269FEBF0185B15044F13F6F38CA285DF0AF883459F40"
 	correctDenom := "ibc/8184469200C5E667794375F5B0EC3B9ABB6FF79082941BF5D0F8FF59FEBA862E"
 	acceptList := m.keeper.AcceptList(ctx)
@@ -46,5 +46,4 @@ func (m Migrator) MigrateBNB(ctx sdk.Context) error {
 	}
 	// Overwrite previous accept list
 	m.keeper.SetAcceptList(ctx, acceptList)
-	return nil
 }