diff --git a/apps/explorer/lib/explorer/chain/import/runner/addresses.ex b/apps/explorer/lib/explorer/chain/import/runner/addresses.ex
index 23530a74e7..8a3ab2eb02 100644
--- a/apps/explorer/lib/explorer/chain/import/runner/addresses.ex
+++ b/apps/explorer/lib/explorer/chain/import/runner/addresses.ex
@@ -87,7 +87,7 @@ defmodule Explorer.Chain.Import.Runner.Addresses do
     from(address in Address,
       update: [
         set: [
-          contract_code: fragment("COALESCE(?, EXCLUDED.contract_code)", address.contract_code),
+          contract_code: fragment("COALESCE(EXCLUDED.contract_code, ?)", address.contract_code),
           # ARGMAX on two columns
           fetched_coin_balance:
             fragment(
diff --git a/apps/indexer/config/dev.exs b/apps/indexer/config/dev.exs
index ffd1d6b0ee..94f2fe82dc 100644
--- a/apps/indexer/config/dev.exs
+++ b/apps/indexer/config/dev.exs
@@ -11,6 +11,11 @@ config :logger, :indexer_token_balances,
   path: Path.absname("logs/dev/indexer/token_balances/error.log"),
   metadata_filter: [fetcher: :token_balances]
 
+config :logger, :failed_contract_creations,
+  level: :debug,
+  path: Path.absname("logs/dev/indexer/failed_contract_creations.log"),
+  metadata_filter: [fetcher: :failed_created_addresses]
+
 variant =
   if is_nil(System.get_env("ETHEREUM_JSONRPC_VARIANT")) do
     "ganache"
diff --git a/apps/indexer/config/prod.exs b/apps/indexer/config/prod.exs
index 49800bcc15..4455dc4c90 100644
--- a/apps/indexer/config/prod.exs
+++ b/apps/indexer/config/prod.exs
@@ -13,6 +13,11 @@ config :logger, :indexer_token_balances,
   metadata_filter: [fetcher: :token_balances],
   rotate: %{max_bytes: 52_428_800, keep: 19}
 
+config :logger, :failed_contract_creations,
+  level: :prod,
+  path: Path.absname("logs/prod/indexer/failed_contract_creations.log"),
+  metadata_filter: [fetcher: :failed_created_addresses]
+
 variant =
   if is_nil(System.get_env("ETHEREUM_JSONRPC_VARIANT")) do
     "parity"
diff --git a/apps/indexer/config/test.exs b/apps/indexer/config/test.exs
index e9c5505405..af40fe5ad6 100644
--- a/apps/indexer/config/test.exs
+++ b/apps/indexer/config/test.exs
@@ -10,3 +10,8 @@ config :logger, :indexer_token_balances,
   level: :debug,
   path: Path.absname("logs/test/indexer/token_balances/error.log"),
   metadata_filter: [fetcher: :token_balances]
+
+config :logger, :failed_contract_creations,
+  level: :debug,
+  path: Path.absname("logs/test/indexer/failed_contract_creations.log"),
+  metadata_filter: [fetcher: :failed_created_addresses]
diff --git a/apps/indexer/lib/indexer/block/supervisor.ex b/apps/indexer/lib/indexer/block/supervisor.ex
index bfc5fb20f4..6365aba2d7 100644
--- a/apps/indexer/lib/indexer/block/supervisor.ex
+++ b/apps/indexer/lib/indexer/block/supervisor.ex
@@ -5,6 +5,7 @@ defmodule Indexer.Block.Supervisor do
 
   alias Indexer.Block
   alias Indexer.Block.{Catchup, InvalidConsensus, Realtime, Reward, Uncle}
+  alias Indexer.Temporary.FailedCreatedAddresses
 
   use Supervisor
 
@@ -45,6 +46,11 @@ defmodule Indexer.Block.Supervisor do
          [
            [json_rpc_named_arguments: json_rpc_named_arguments, memory_monitor: memory_monitor],
            [name: Reward.Supervisor]
+         ]},
+        {FailedCreatedAddresses.Supervisor,
+         [
+           json_rpc_named_arguments,
+           [name: FailedCreatedAddresses.Supervisor]
          ]}
       ],
       strategy: :one_for_one
diff --git a/apps/indexer/lib/indexer/temporary/failed_created_addresses.ex b/apps/indexer/lib/indexer/temporary/failed_created_addresses.ex
new file mode 100644
index 0000000000..1a5dd99d07
--- /dev/null
+++ b/apps/indexer/lib/indexer/temporary/failed_created_addresses.ex
@@ -0,0 +1,119 @@
+defmodule Indexer.Temporary.FailedCreatedAddresses do
+  @moduledoc """
+  Temporary module to fix internal transactions and their created transactions if a parent transaction has failed.
+  """
+  use GenServer
+
+  require Logger
+
+  import Ecto.Query
+
+  alias Explorer.Chain.{InternalTransaction, Transaction}
+  alias Explorer.Repo
+  alias Indexer.Temporary.FailedCreatedAddresses.TaskSupervisor
+
+  @task_options [max_concurrency: 3, timeout: :infinity]
+  @query_timeout :infinity
+
+  def start_link([json_rpc_named_arguments, gen_server_options]) do
+    GenServer.start_link(__MODULE__, json_rpc_named_arguments, gen_server_options)
+  end
+
+  @impl GenServer
+  def init(json_rpc_named_arguments) do
+    run(json_rpc_named_arguments)
+
+    {:ok, json_rpc_named_arguments}
+  end
+
+  def run(json_rpc_named_arguments) do
+    Logger.debug(
+      [
+        "Started query to fetch internal transactions that need to be fixed"
+      ],
+      fetcher: :failed_created_addresses
+    )
+
+    query =
+      from(t in Transaction,
+        left_join: it in InternalTransaction,
+        on: it.transaction_hash == t.hash,
+        where: t.status == ^0 and not is_nil(it.created_contract_address_hash)
+      )
+
+    found_transactions = Repo.all(query, timeout: @query_timeout)
+
+    Logger.debug(
+      [
+        "Finished query to fetch internal transactions that need to be fixed. Number of records is #{
+          Enum.count(found_transactions)
+        }"
+      ],
+      fetcher: :failed_created_addresses
+    )
+
+    TaskSupervisor
+    |> Task.Supervisor.async_stream_nolink(
+      found_transactions,
+      fn transaction -> fix_internal_transaction(transaction, json_rpc_named_arguments) end,
+      @task_options
+    )
+    |> Enum.to_list()
+  end
+
+  def fix_internal_transaction(transaction, json_rpc_named_arguments) do
+    # credo:disable-for-next-line
+    try do
+      Logger.debug(
+        [
+          "Started fixing transaction #{to_string(transaction.hash)}"
+        ],
+        fetcher: :failed_created_addresses
+      )
+
+      transaction_with_internal_transactions = Repo.preload(transaction, [:internal_transactions])
+
+      transaction_with_internal_transactions.internal_transactions
+      |> Enum.filter(fn internal_transaction ->
+        internal_transaction.created_contract_address_hash
+      end)
+      |> Enum.each(fn internal_transaction ->
+        :ok =
+          internal_transaction
+          |> code_entry()
+          |> Indexer.Code.Fetcher.run(json_rpc_named_arguments)
+      end)
+
+      :ok =
+        transaction
+        |> transaction_entry()
+        |> Indexer.InternalTransaction.Fetcher.run(json_rpc_named_arguments)
+
+      Logger.debug(
+        [
+          "Finished fixing transaction #{to_string(transaction.hash)}"
+        ],
+        fetcher: :failed_created_addresses
+      )
+    rescue
+      e ->
+        Logger.debug(
+          [
+            "Failed fixing transaction #{to_string(transaction.hash)} because of #{inspect(e)}"
+          ],
+          fetcher: :failed_created_addresses
+        )
+    end
+  end
+
+  def code_entry(%InternalTransaction{
+        block_number: block_number,
+        created_contract_address_hash: %{bytes: created_contract_bytes}
+      }) do
+    [{block_number, created_contract_bytes, <<>>}]
+  end
+
+  def transaction_entry(%Transaction{hash: %{bytes: bytes}, index: index, block_number: block_number}) do
+    [{block_number, bytes, index}]
+  end
+end
diff --git a/apps/indexer/lib/indexer/temporary/failed_created_addresses/supervisor.ex b/apps/indexer/lib/indexer/temporary/failed_created_addresses/supervisor.ex
new file mode 100644
index 0000000000..9ec54e7812
--- /dev/null
+++ b/apps/indexer/lib/indexer/temporary/failed_created_addresses/supervisor.ex
@@ -0,0 +1,38 @@
+defmodule Indexer.Temporary.FailedCreatedAddresses.Supervisor do
+  @moduledoc """
+  Supervises `Indexer.Temporary.FailedCreatedAddresses`.
+  """
+
+  use Supervisor
+
+  alias Indexer.Temporary.FailedCreatedAddresses
+
+  def child_spec([init_arguments]) do
+    child_spec([init_arguments, []])
+  end
+
+  def child_spec([_init_arguments, _gen_server_options] = start_link_arguments) do
+    default = %{
+      id: __MODULE__,
+      start: {__MODULE__, :start_link, start_link_arguments},
+      type: :supervisor
+    }
+
+    Supervisor.child_spec(default, [])
+  end
+
+  def start_link(json_rpc_named_arguments, gen_server_options \\ []) do
+    Supervisor.start_link(__MODULE__, json_rpc_named_arguments, gen_server_options)
+  end
+
+  @impl Supervisor
+  def init(json_rpc_named_arguments) do
+    Supervisor.init(
+      [
+        {Task.Supervisor, name: Indexer.Temporary.FailedCreatedAddresses.TaskSupervisor},
+        {FailedCreatedAddresses, [json_rpc_named_arguments, [name: FailedCreatedAddresses]]}
+      ],
+      strategy: :rest_for_one
+    )
+  end
+end
diff --git a/apps/indexer/test/indexer/temporary/failed_created_addresses_test.exs b/apps/indexer/test/indexer/temporary/failed_created_addresses_test.exs
new file mode 100644
index 0000000000..7743600a9f
--- /dev/null
+++ b/apps/indexer/test/indexer/temporary/failed_created_addresses_test.exs
@@ -0,0 +1,139 @@
+defmodule Indexer.Temporary.FailedCreatedAddressesTest do
+  use Explorer.DataCase, async: false
+  use EthereumJSONRPC.Case, async: false
+
+  import Mox
+
+  import Ecto.Query
+
+  alias Explorer.Repo
+  alias Explorer.Chain.{Address, Transaction}
+  alias Indexer.Temporary.FailedCreatedAddresses.Supervisor
+  alias Indexer.CoinBalance
+
+  @moduletag capture_log: true
+
+  setup :set_mox_global
+
+  setup :verify_on_exit!
+
+  describe "run/1" do
+    @tag :no_parity
+    @tag :no_geth
+    test "updates failed replaced transactions", %{json_rpc_named_arguments: json_rpc_named_arguments} do
+      CoinBalance.Supervisor.Case.start_supervised!(json_rpc_named_arguments: json_rpc_named_arguments)
+
+      block = insert(:block)
+
+      transaction =
+        :transaction
+        |> insert(
+          status: 0,
+          error: "Reverted",
+          internal_transactions_indexed_at: DateTime.utc_now(),
+          block: block,
+          block_number: block.number,
+          cumulative_gas_used: 200,
+          gas_used: 100,
+          index: 0
+        )
+
+      address = insert(:address, contract_code: "0x0102030405")
+
+      insert(:internal_transaction,
+        block_number: transaction.block_number,
+        transaction: transaction,
+        index: 0,
+        created_contract_address_hash: address.hash
+      )
+
+      if json_rpc_named_arguments[:transport] == EthereumJSONRPC.Mox do
+        EthereumJSONRPC.Mox
+        |> expect(:json_rpc, fn _json, _options ->
+          {:ok, [%{id: 0, jsonrpc: "2.0", result: "0x"}]}
+        end)
+        |> expect(:json_rpc, fn [%{id: id, method: "eth_getBalance", params: [_address, _block_quantity]}], _options ->
+          {:ok, [%{id: id, result: "0x0"}]}
+        end)
+        |> expect(:json_rpc, fn _json, _options ->
+          {:ok,
+           [
+             %{
+               id: 0,
+               jsonrpc: "2.0",
+               result: %{
+                 "output" => "0x",
+                 "stateDiff" => nil,
+                 "trace" => [
+                   %{
+                     "action" => %{
+                       "callType" => "call",
+                       "from" => "0xc73add416e2119d20ce80e0904fc1877e33ef246",
+                       "gas" => "0x13388",
+                       "input" => "0xc793bf97",
+                       "to" => "0x2d07e106b5d280e4ccc2d10deee62441c91d4340",
+                       "value" => "0x0"
+                     },
+                     "error" => "Reverted",
+                     "subtraces" => 1,
+                     "traceAddress" => [],
+                     "type" => "call"
+                   },
+                   %{
+                     "action" => %{
+                       "from" => "0x2d07e106b5d280e4ccc2d10deee62441c91d4340",
+                       "gas" => "0xb2ab",
+                       "init" => "0x4bb278f3",
+                       "value" => "0x0"
+                     },
+                     "result" => %{
+                       "address" => "0xf4a5afe28b91cf928c2568805cfbb36d477f0b75",
+                       "code" =>
+                         "0x6080604052600436106038577c010000000000000000000000000000000000000000000000000000000060003504633ccfd60b8114604f575b336000908152602081905260409020805434019055005b348015605a57600080fd5b5060616063565b005b33600081815260208190526040808220805490839055905190929183156108fc02918491818181858888f1935050505015801560a3573d6000803e3d6000fd5b505056fea165627a7a72305820e9a226f249def650de957dd8b4127b85a3049d6bfa818cadc4e2d3c44b6a53530029",
+                       "gasUsed" => "0xa535"
+                     },
+                     "subtraces" => 0,
+                     "traceAddress" => [0],
+                     "type" => "create"
+                   }
+                 ],
+                 "vmTrace" => nil
+               }
+             }
+           ]}
+        end)
+      end
+
+      params = [json_rpc_named_arguments, [name: TestFailedCreatedAddresses]]
+
+      params
+      |> Supervisor.child_spec()
+      |> ExUnit.Callbacks.start_supervised!()
+
+      Process.sleep(3_000)
+
+      query =
+        from(t in Transaction,
+          where: t.hash == ^transaction.hash,
+          preload: [internal_transactions: :created_contract_address]
+        )
+
+      fetched_transaction = Repo.one(query)
+
+      assert Enum.count(fetched_transaction.internal_transactions) == 2
+
+      assert Enum.all?(fetched_transaction.internal_transactions, fn it ->
+               it.error && is_nil(it.created_contract_address_hash)
+             end)
+
+      fetched_address =
+        Repo.one(
+          from(a in Address,
+            where: a.hash == ^address.hash
+          )
+        )
+
+      assert fetched_address.contract_code == %Explorer.Chain.Data{bytes: ""}
+    end
+  end
+end
diff --git a/config/config.exs b/config/config.exs
index dd53c84375..0d5d0ad976 100644
--- a/config/config.exs
+++ b/config/config.exs
@@ -26,6 +26,7 @@ config :logger,
     # only :indexer, but all levels
     {LoggerFileBackend, :indexer},
     {LoggerFileBackend, :indexer_token_balances},
+    {LoggerFileBackend, :failed_contract_creations},
     {LoggerFileBackend, :reading_token_functions}
   ]