diff --git a/browser/importer/brave_profile_writer.cc b/browser/importer/brave_profile_writer.cc
index 28ba14e69163..6ec74acfefa6 100644
--- a/browser/importer/brave_profile_writer.cc
+++ b/browser/importer/brave_profile_writer.cc
@@ -107,7 +107,7 @@ void BraveProfileWriter::SetBridge(BraveInProcessImporterBridge* bridge) {
 }
 
 void BraveProfileWriter::OnWalletInitialized(
-    brave_rewards::RewardsService* rewards_service, int result) {
+    brave_rewards::RewardsService* rewards_service, uint32_t result) {
   if (result != 0 && result != 12) {  // 12: ledger::Result::WALLET_CREATED
     // Cancel the import if wallet creation failed
     std::ostringstream msg;
diff --git a/browser/importer/brave_profile_writer.h b/browser/importer/brave_profile_writer.h
index 75d62fc01b06..df63e8b92f2a 100644
--- a/browser/importer/brave_profile_writer.h
+++ b/browser/importer/brave_profile_writer.h
@@ -41,7 +41,7 @@ class BraveProfileWriter : public ProfileWriter,
 
   // brave_rewards::RewardsServiceObserver:
   void OnWalletInitialized(brave_rewards::RewardsService* rewards_service,
-                           int result) override;
+                           uint32_t result) override;
   void OnRecoverWallet(brave_rewards::RewardsService* rewards_service,
                        unsigned int result,
                        double balance,
diff --git a/browser/ui/webui/brave_rewards_ui.cc b/browser/ui/webui/brave_rewards_ui.cc
index c9f3b29098df..f6ce64cd862a 100644
--- a/browser/ui/webui/brave_rewards_ui.cc
+++ b/browser/ui/webui/brave_rewards_ui.cc
@@ -121,7 +121,7 @@ class RewardsDOMHandler : public WebUIMessageHandler,
 
   // RewardsServiceObserver implementation
   void OnWalletInitialized(brave_rewards::RewardsService* rewards_service,
-                       int result) override;
+                       uint32_t result) override;
   void OnWalletProperties(
       brave_rewards::RewardsService* rewards_service,
       int error_code,
@@ -358,7 +358,7 @@ void RewardsDOMHandler::GetWalletProperties(const base::ListValue* args) {
 
 void RewardsDOMHandler::OnWalletInitialized(
     brave_rewards::RewardsService* rewards_service,
-    int result) {
+    uint32_t result) {
   if (!web_ui()->CanCallJavascript())
     return;
 
diff --git a/common/extensions/api/brave_rewards.json b/common/extensions/api/brave_rewards.json
index 03ab1956fd0e..4cebb043abf5 100644
--- a/common/extensions/api/brave_rewards.json
+++ b/common/extensions/api/brave_rewards.json
@@ -11,10 +11,15 @@
     },
     "events": [
       {
-        "name": "onWalletCreated",
+        "name": "onWalletInitialized",
         "type": "function",
-        "description": "Fired when wallet is created",
-        "parameters": []
+        "description": "Fired when wallet is initialized",
+        "parameters": [
+          {
+            "name": "result",
+            "type": "integer"
+          }
+        ]
       },
       {
         "name": "onGrant",
@@ -251,18 +256,6 @@
           }
         ]
       },
-      {
-        "name": "onWalletFailed",
-        "type": "function",
-        "description": "Fired when wallet creation failed",
-        "parameters": []
-      },
-      {
-        "name": "onWalletCorrupted",
-        "type": "function",
-        "description": "Fired when wallet is corrupt",
-        "parameters": []
-      },
       {
         "name": "onPublisherListNormalized",
         "type": "function",
diff --git a/components/brave_rewards/browser/extension_rewards_service_observer.cc b/components/brave_rewards/browser/extension_rewards_service_observer.cc
index 7b55a1b53308..7639b5e88710 100644
--- a/components/brave_rewards/browser/extension_rewards_service_observer.cc
+++ b/components/brave_rewards/browser/extension_rewards_service_observer.cc
@@ -28,35 +28,20 @@ ExtensionRewardsServiceObserver::~ExtensionRewardsServiceObserver() {
 
 void ExtensionRewardsServiceObserver::OnWalletInitialized(
     RewardsService* rewards_service,
-    int result) {
+    uint32_t result) {
   auto* event_router = extensions::EventRouter::Get(profile_);
 
-  ledger::Result new_result = static_cast<ledger::Result>(result);
-
   // Don't report back if there is no ledger file
-  if (event_router && new_result != ledger::Result::NO_LEDGER_STATE) {
-    std::unique_ptr<base::ListValue> args(new base::ListValue());
-
-    // wallet successfully created
-    if (result == ledger::Result::WALLET_CREATED) {
-      std::unique_ptr<extensions::Event> event(new extensions::Event(
-        extensions::events::BRAVE_WALLET_CREATED,
-        extensions::api::brave_rewards::OnWalletCreated::kEventName,
-        std::move(args)));
-      event_router->BroadcastEvent(std::move(event));
-    } else if (result == ledger::Result::CORRUPTED_WALLET) {
-      std::unique_ptr<extensions::Event> event(new extensions::Event(
+  if (event_router && result != ledger::Result::NO_LEDGER_STATE) {
+    std::unique_ptr<base::ListValue> args(
+        extensions::api::brave_rewards::OnWalletInitialized::Create(
+          result).release());
+
+    std::unique_ptr<extensions::Event> event(new extensions::Event(
         extensions::events::BRAVE_START,
-        extensions::api::brave_rewards::OnWalletCorrupted::kEventName,
-        std::move(args)));
-      event_router->BroadcastEvent(std::move(event));
-    } else if (result != ledger::Result::LEDGER_OK) {
-      std::unique_ptr<extensions::Event> event(new extensions::Event(
-        extensions::events::BRAVE_WALLET_FAILED,
-        extensions::api::brave_rewards::OnWalletFailed::kEventName,
+        extensions::api::brave_rewards::OnWalletInitialized::kEventName,
         std::move(args)));
-      event_router->BroadcastEvent(std::move(event));
-    }
+    event_router->BroadcastEvent(std::move(event));
   }
 }
 
@@ -67,10 +52,12 @@ void ExtensionRewardsServiceObserver::OnWalletProperties(
   auto* event_router =
       extensions::EventRouter::Get(profile_);
   if (error_code == 17) {  // ledger::Result::CORRUPT_WALLET
-    std::unique_ptr<base::ListValue> args(new base::ListValue());
+    std::unique_ptr<base::ListValue> args(
+        extensions::api::brave_rewards::OnWalletInitialized::Create(
+          error_code).release());
     std::unique_ptr<extensions::Event> event(new extensions::Event(
         extensions::events::BRAVE_START,
-        extensions::api::brave_rewards::OnWalletCorrupted::kEventName,
+        extensions::api::brave_rewards::OnWalletInitialized::kEventName,
         std::move(args)));
     event_router->BroadcastEvent(std::move(event));
   }
diff --git a/components/brave_rewards/browser/extension_rewards_service_observer.h b/components/brave_rewards/browser/extension_rewards_service_observer.h
index 4f0bcca605fe..821f3277e591 100644
--- a/components/brave_rewards/browser/extension_rewards_service_observer.h
+++ b/components/brave_rewards/browser/extension_rewards_service_observer.h
@@ -28,7 +28,7 @@ class ExtensionRewardsServiceObserver : public RewardsServiceObserver,
 
   // RewardsServiceObserver implementation
   void OnWalletInitialized(RewardsService* rewards_service,
-                           int result) override;
+                           uint32_t result) override;
   void OnWalletProperties(RewardsService* rewards_service,
                           int error_code,
                           std::unique_ptr<brave_rewards::WalletProperties>
diff --git a/components/brave_rewards/browser/rewards_service_impl.cc b/components/brave_rewards/browser/rewards_service_impl.cc
index 1d1686c923f5..de4875338028 100644
--- a/components/brave_rewards/browser/rewards_service_impl.cc
+++ b/components/brave_rewards/browser/rewards_service_impl.cc
@@ -1318,7 +1318,7 @@ void RewardsServiceImpl::OnURLFetchComplete(
   callback(response_code, body, headers);
 }
 
-void RewardsServiceImpl::TriggerOnWalletInitialized(int result) {
+void RewardsServiceImpl::TriggerOnWalletInitialized(ledger::Result result) {
   for (auto& observer : observers_)
     observer.OnWalletInitialized(this, result);
 }
diff --git a/components/brave_rewards/browser/rewards_service_impl.h b/components/brave_rewards/browser/rewards_service_impl.h
index cef071fe9110..c1b99ec0b409 100644
--- a/components/brave_rewards/browser/rewards_service_impl.h
+++ b/components/brave_rewards/browser/rewards_service_impl.h
@@ -225,7 +225,7 @@ class RewardsServiceImpl : public RewardsService,
                              bool success);
   void OnPublisherStateLoaded(ledger::LedgerCallbackHandler* handler,
                               const std::string& data);
-  void TriggerOnWalletInitialized(int result);
+  void TriggerOnWalletInitialized(ledger::Result result);
   void OnFetchWalletProperties(int result,
                                const std::string& json_wallet);
   void TriggerOnGrant(ledger::Result result, const ledger::Grant& grant);
diff --git a/components/brave_rewards/browser/rewards_service_impl_unittest.cc b/components/brave_rewards/browser/rewards_service_impl_unittest.cc
index d50b783552c4..d2c4bfc42fc6 100644
--- a/components/brave_rewards/browser/rewards_service_impl_unittest.cc
+++ b/components/brave_rewards/browser/rewards_service_impl_unittest.cc
@@ -25,7 +25,7 @@ using ::testing::_;
 class MockRewardsServiceObserver : public RewardsServiceObserver {
  public:
   MockRewardsServiceObserver() {}
-  MOCK_METHOD2(OnWalletInitialized, void(RewardsService*, int));
+  MOCK_METHOD2(OnWalletInitialized, void(RewardsService*, uint32_t));
   MOCK_METHOD3(OnWalletProperties, void(RewardsService*,
       int,
       std::unique_ptr<brave_rewards::WalletProperties>));
diff --git a/components/brave_rewards/browser/rewards_service_observer.h b/components/brave_rewards/browser/rewards_service_observer.h
index d549a1666b94..ecfdc5024690 100644
--- a/components/brave_rewards/browser/rewards_service_observer.h
+++ b/components/brave_rewards/browser/rewards_service_observer.h
@@ -27,7 +27,7 @@ class RewardsServiceObserver : public base::CheckedObserver {
 
   virtual void OnWalletInitialized(
       RewardsService* rewards_service,
-      int error_code) {}
+      uint32_t error_code) {}
   virtual void OnWalletProperties(
       RewardsService* rewards_service,
       int error_code,
diff --git a/components/brave_rewards/resources/extension/brave_rewards/actions/rewards_panel_actions.ts b/components/brave_rewards/resources/extension/brave_rewards/actions/rewards_panel_actions.ts
index 0b91a2cac53c..41f07a97d92e 100644
--- a/components/brave_rewards/resources/extension/brave_rewards/actions/rewards_panel_actions.ts
+++ b/components/brave_rewards/resources/extension/brave_rewards/actions/rewards_panel_actions.ts
@@ -9,11 +9,9 @@ import { types } from '../constants/rewards_panel_types'
 
 export const createWallet = () => action(types.CREATE_WALLET, {})
 
-export const onWalletCreated = () => action(types.ON_WALLET_CREATED, {})
-
-export const onWalletCreateFailed = () => action(types.ON_WALLET_CREATE_FAILED, {})
-
-export const onWalletCorrupted = () => action(types.ON_WALLET_CORRUPTED)
+export const onWalletInitialized = (result: RewardsExtension.Result) => action(types.ON_WALLET_INITIALIZED, {
+  result
+})
 
 export const onTabId = (tabId: number | undefined) => action(types.ON_TAB_ID, {
   tabId
diff --git a/components/brave_rewards/resources/extension/brave_rewards/background/events/rewardsEvents.ts b/components/brave_rewards/resources/extension/brave_rewards/background/events/rewardsEvents.ts
index 480bc82e9912..2d5d089f8c1a 100644
--- a/components/brave_rewards/resources/extension/brave_rewards/background/events/rewardsEvents.ts
+++ b/components/brave_rewards/resources/extension/brave_rewards/background/events/rewardsEvents.ts
@@ -4,8 +4,8 @@
 
 import rewardsPanelActions from '../actions/rewardsPanelActions'
 
-chrome.braveRewards.onWalletCreated.addListener(() => {
-  rewardsPanelActions.onWalletCreated()
+chrome.braveRewards.onWalletInitialized.addListener((result: RewardsExtension.Result) => {
+  rewardsPanelActions.onWalletInitialized(result)
 })
 
 chrome.braveRewards.onPublisherData.addListener((windowId: number, publisher: RewardsExtension.Publisher) => {
@@ -59,14 +59,6 @@ chrome.braveRewards.onPendingContributionSaved.addListener((result: number) => {
   }
 })
 
-chrome.braveRewards.onWalletFailed.addListener(() => {
-  rewardsPanelActions.onWalletCreateFailed()
-})
-
-chrome.braveRewards.onWalletCorrupted.addListener(() => {
-  rewardsPanelActions.onWalletCorrupted()
-})
-
 chrome.braveRewards.onPublisherListNormalized.addListener((properties: RewardsExtension.PublisherNormalized[]) => {
   rewardsPanelActions.onPublisherListNormalized(properties)
 })
diff --git a/components/brave_rewards/resources/extension/brave_rewards/background/reducers/rewards_panel_reducer.ts b/components/brave_rewards/resources/extension/brave_rewards/background/reducers/rewards_panel_reducer.ts
index 7ece2ac1b10f..edaf33095f7b 100644
--- a/components/brave_rewards/resources/extension/brave_rewards/background/reducers/rewards_panel_reducer.ts
+++ b/components/brave_rewards/resources/extension/brave_rewards/background/reducers/rewards_panel_reducer.ts
@@ -30,7 +30,6 @@ export const rewardsPanelReducer = (state: RewardsExtension.State | undefined, a
     state = storage.load()
     setBadgeText(state)
   }
-
   const payload = action.payload
   switch (action.type) {
     case types.CREATE_WALLET:
@@ -41,33 +40,33 @@ export const rewardsPanelReducer = (state: RewardsExtension.State | undefined, a
       state.walletCreated = false
       state.walletCorrupted = false
       break
-    case types.ON_WALLET_CREATED:
-      state = { ...state }
-      state.walletCreated = true
-      state.walletCreateFailed = false
-      state.walletCreating = false
-      state.walletCorrupted = false
-      chrome.braveRewards.saveAdsSetting('adsEnabled', 'true')
-      chrome.storage.local.get(['is_dismissed'], function (result) {
-        if (result && result['is_dismissed'] === 'false') {
-          chrome.browserAction.setBadgeText({
-            text: ''
-          })
-          chrome.storage.local.remove(['is_dismissed'])
-        }
-      })
-      break
-    case types.ON_WALLET_CREATE_FAILED:
-      state = { ...state }
-      state.walletCreateFailed = true
-      state.walletCreating = false
-      state.walletCreated = false
-      state.walletCorrupted = false
-      break
-    case types.ON_WALLET_CORRUPTED:
+    case types.ON_WALLET_INITIALIZED: {
+      const result: RewardsExtension.Result = payload.result
       state = { ...state }
-      state.walletCorrupted = true
+      if (result === RewardsExtension.Result.WALLET_CREATED) {
+        state.walletCreated = true
+        state.walletCreateFailed = false
+        state.walletCreating = false
+        state.walletCorrupted = false
+        chrome.braveRewards.saveAdsSetting('adsEnabled', 'true')
+        chrome.storage.local.get(['is_dismissed'], function (result) {
+          if (result && result['is_dismissed'] === 'false') {
+            chrome.browserAction.setBadgeText({
+              text: ''
+            })
+            chrome.storage.local.remove(['is_dismissed'])
+          }
+        })
+      } else if (result === RewardsExtension.Result.WALLET_CORRUPT) {
+        state.walletCorrupted = true
+      } else if (result !== RewardsExtension.Result.LEDGER_OK) {
+        state.walletCreateFailed = true
+        state.walletCreating = false
+        state.walletCreated = false
+        state.walletCorrupted = false
+      }
       break
+    }
     case types.ON_TAB_ID:
       if (payload.tabId) {
         getTabData(payload.tabId)
diff --git a/components/brave_rewards/resources/extension/brave_rewards/constants/rewards_panel_types.ts b/components/brave_rewards/resources/extension/brave_rewards/constants/rewards_panel_types.ts
index 0cb859e98660..7ed79687c65d 100644
--- a/components/brave_rewards/resources/extension/brave_rewards/constants/rewards_panel_types.ts
+++ b/components/brave_rewards/resources/extension/brave_rewards/constants/rewards_panel_types.ts
@@ -4,9 +4,7 @@
 
 export const enum types {
   CREATE_WALLET = '@@rewards_panel/CREATE_WALLET',
-  ON_WALLET_CREATED = '@@rewards_panel/ON_WALLET_CREATED',
-  ON_WALLET_CREATE_FAILED = '@@rewards_panel/ON_WALLET_CREATE_FAILED',
-  ON_WALLET_CORRUPTED = '@@rewards_panel/ON_WALLET_CORRUPTED',
+  ON_WALLET_INITIALIZED = '@@rewards_panel/ON_WALLET_INITIALIZED',
   ON_TAB_ID = '@@rewards_panel/ON_TAB_ID',
   ON_TAB_RETRIEVED = '@@rewards_panel/ON_TAB_RETRIEVED',
   ON_PUBLISHER_DATA = '@@rewards_panel/ON_PUBLISHER_DATA',
diff --git a/components/definitions/chromel.d.ts b/components/definitions/chromel.d.ts
index 4209e696266a..1315e75aa5db 100644
--- a/components/definitions/chromel.d.ts
+++ b/components/definitions/chromel.d.ts
@@ -18,8 +18,8 @@ declare namespace chrome.braveRewards {
   const getPublisherData: (windowId: number, url: string, faviconUrl: string, publisherBlob: string | undefined) => {}
   const getWalletProperties: () => {}
   const getCurrentReport: () => {}
-  const onWalletCreated: {
-    addListener: (callback: () => void) => void
+  const onWalletInitialized: {
+    addListener: (callback: (result: RewardsExtension.Result) => void) => void
   }
   const onPublisherData: {
     addListener: (callback: (windowId: number, publisher: RewardsExtension.Publisher) => void) => void
@@ -53,12 +53,6 @@ declare namespace chrome.braveRewards {
   const onPendingContributionSaved: {
     addListener: (callback: (result: number) => void) => void
   }
-  const onWalletFailed: {
-    addListener: (callback: () => void) => void
-  }
-  const onWalletCorrupted: {
-    addListener: (callback: () => void) => void
-  }
   const getACEnabled: (callback: (enabled: boolean) => void) => {}
   const onPublisherListNormalized: {
     addListener: (callback: (properties: RewardsExtension.PublisherNormalized[]) => void) => void
diff --git a/components/definitions/rewardsExtensions.d.ts b/components/definitions/rewardsExtensions.d.ts
index 0df1cad0b902..a59528ac4c52 100644
--- a/components/definitions/rewardsExtensions.d.ts
+++ b/components/definitions/rewardsExtensions.d.ts
@@ -71,7 +71,7 @@ declare namespace RewardsExtension {
     expiryTime: number
   }
 
-  export enum Result {
+  export const enum Result {
     LEDGER_OK = 0,
     LEDGER_ERROR = 1,
     NO_PUBLISHER_STATE = 2,
@@ -85,7 +85,8 @@ declare namespace RewardsExtension {
     REGISTRATION_VERIFICATION_FAILED = 10,
     BAD_REGISTRATION_RESPONSE = 11,
     WALLET_CREATED = 12,
-    GRANT_NOT_FOUND = 13
+    GRANT_NOT_FOUND = 13,
+    WALLET_CORRUPT = 17
   }
 
   export interface Captcha {