diff --git a/src/commonMain/kotlin/fr/acinq/lightning/io/Peer.kt b/src/commonMain/kotlin/fr/acinq/lightning/io/Peer.kt
index 68191f2d8..f9a26e560 100644
--- a/src/commonMain/kotlin/fr/acinq/lightning/io/Peer.kt
+++ b/src/commonMain/kotlin/fr/acinq/lightning/io/Peer.kt
@@ -135,6 +135,8 @@ class Peer(
     private val _channelsFlow = MutableStateFlow<Map<ByteVector32, ChannelState>>(HashMap())
     val channelsFlow: StateFlow<Map<ByteVector32, ChannelState>> get() = _channelsFlow
 
+    private var swapInManager: SwapInManager? = null
+
     private var _channels by _channelsFlow
     val channels: Map<ByteVector32, ChannelState> get() = _channelsFlow.value
 
@@ -227,6 +229,7 @@ class Peer(
                 _channels = _channels + (it.channelId to state1)
                 it.channelId
             }
+            swapInManager = SwapInManager(bootChannels, logger)
             logger.info { "restored ${channelIds.size} channels" }
             launch { watchSwapInWallet() }
             launch {
@@ -237,8 +240,7 @@ class Peer(
                 logger.info { "checking for timed out htlcs for channels: ${channelIds.joinToString(", ")}" }
                 channelIds.forEach { input.send(WrappedChannelCommand(it, ChannelCommand.Commitment.CheckHtlcTimeout)) }
             }
-            val swapInManager = SwapInManager(bootChannels, logger)
-            run(swapInManager)
+            run()
         }
         launch {
             var previousState = connectionState.value
@@ -683,14 +685,14 @@ class Peer(
         Secp256k1DHFunctions, Chacha20Poly1305CipherFunctions, SHA256HashFunctions
     )
 
-    private suspend fun run(swapInManager: SwapInManager) {
+    private suspend fun run() {
         logger.info { "peer is active" }
         for (event in input) {
-            processEvent(swapInManager, event)
+            processEvent(event)
         }
     }
 
-    private suspend fun processEvent(swapInManager: SwapInManager, cmd: PeerCommand) {
+    private suspend fun processEvent(cmd: PeerCommand) {
         when (cmd) {
             is BytesReceived -> {
                 val msg = try {
@@ -1054,7 +1056,7 @@ class Peer(
                 }
             }
             is WalletCommand -> {
-                swapInManager.process(cmd)?.let { input.send(it) }
+                swapInManager?.process(cmd)?.let { input.send(it) }
             }
             is Disconnected -> {
                 logger.warning { "disconnecting channels" }