diff --git a/public/locales/en.json b/public/locales/en.json
index 753be54..9bcd195 100644
--- a/public/locales/en.json
+++ b/public/locales/en.json
@@ -1093,6 +1093,13 @@
     "errorPasswordIncorrect": "Incorrect password.",
     "errorUnknown": "An unknown error occurred. See console for details.",
 
-    "buttonSubmit": "Begin migration"
+    "buttonForgotPassword": "Forgot password",
+    "buttonSubmit": "Begin migration",
+
+    "forgotPassword": {
+      "modalTitle": "Skip v1 migration",
+      "modalContent": "If you forgot your master password for KristWeb v1, then you will not be able to migrate your wallets. You will never be asked again. Are you sure you want to skip migration?",
+      "buttonSkip": "Skip"
+    }
   }
 }
diff --git a/src/global/legacy/LegacyMigrationModal.tsx b/src/global/legacy/LegacyMigrationModal.tsx
index da53b63..ec29149 100644
--- a/src/global/legacy/LegacyMigrationModal.tsx
+++ b/src/global/legacy/LegacyMigrationModal.tsx
@@ -3,6 +3,7 @@
 // Full details: https://github.com/tmpim/KristWeb2/blob/master/LICENSE.txt
 import { useState } from "react";
 import { Modal, Button } from "antd";
+import { ExclamationCircleOutlined } from "@ant-design/icons";
 
 import { useTFns } from "@utils/i18n";
 
@@ -14,6 +15,9 @@
 import { BackupResultsSummary } from "@pages/backup/BackupResultsSummary";
 import { BackupResultsTree } from "@pages/backup/BackupResultsTree";
 
+import Debug from "debug";
+const debug = Debug("kristweb:legacy-migration-modal");
+
 interface Props {
   backup: BackupKristWebV1;
   setVisible: (visible: boolean) => void;
@@ -38,6 +42,30 @@
     setVisible(false);
   }
 
+  function openForgotPasswordModal() {
+    Modal.confirm({
+      title: tStr("forgotPassword.modalTitle"),
+      icon: <ExclamationCircleOutlined />,
+
+      content: tStr("forgotPassword.modalContent"),
+
+      cancelText: t("dialog.cancel"),
+
+      okText: tStr("forgotPassword.buttonSkip"),
+      okType: "danger",
+      onOk() {
+        debug("skipping v1 legacy migration");
+
+        // Mark the migration as completed, so the modal won't appear again.
+        // The data will be deleted after 7 days.
+        localStorage.setItem("migrated", "2");
+        localStorage.setItem("legacyMigratedTime", new Date().toISOString());
+
+        closeModal();
+      }
+    });
+  }
+
   return <Modal
     title={tStr("modalTitle")}
 
@@ -48,7 +76,16 @@
     width={results ? 640 : undefined}
 
     // Remove the 'Cancel' button
-    footer={(
+    footer={<>
+      {/* Forgot password button */}
+      <Button
+        danger
+        onClick={openForgotPasswordModal}
+      >
+        {tStr("buttonForgotPassword")}
+      </Button>
+
+      {/* Submit button */}
       <Button
         type="primary"
         loading={loading}
@@ -56,7 +93,7 @@
       >
         {results ? t("dialog.close") : tStr("buttonSubmit")}
       </Button>
-    )}
+    </>}
   >
     {/* Show the results screen, progress bar, or backup form */}
     {results