diff --git a/packages/assets-controllers/CHANGELOG.md b/packages/assets-controllers/CHANGELOG.md
index ccb00b0d13b..d48dd98eb5e 100644
--- a/packages/assets-controllers/CHANGELOG.md
+++ b/packages/assets-controllers/CHANGELOG.md
@@ -27,6 +27,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   - Malicious tokens that slip through are caught by the periodic rescan (runs daily by default)
 - Bump `@metamask/transaction-controller` from `^64.3.0` to `^64.4.0` ([#8585](https://github.com/MetaMask/core/pull/8585))
 
+### Fixed
+
+- Fix `selectAssetsBySelectedAccountGroup` crashing when an account referenced in the account tree is missing from internal accounts ([#8604](https://github.com/MetaMask/core/pull/8604))
+
 ## [104.3.0]
 
 ### Added
diff --git a/packages/assets-controllers/src/selectors/token-selectors.test.ts b/packages/assets-controllers/src/selectors/token-selectors.test.ts
index 76c79fc55a6..ccbac2f2d21 100644
--- a/packages/assets-controllers/src/selectors/token-selectors.test.ts
+++ b/packages/assets-controllers/src/selectors/token-selectors.test.ts
@@ -877,6 +877,18 @@ describe('token-selectors', () => {
       expect(result).toStrictEqual(expectedMockResult);
     });
 
+    it('skips accounts referenced in accountTree but missing from internalAccounts', () => {
+      const state = cloneDeep(mockedMergedState);
+
+      state.accountTree.wallets['entropy:01K1TJY9QPSCKNBSVGZNG510GJ'].groups[
+        'entropy:01K1TJY9QPSCKNBSVGZNG510GJ/0'
+      ].accounts.push('non-existent-account-id');
+
+      const result = selectAssetsBySelectedAccountGroup(state);
+
+      expect(result).toStrictEqual(expectedMockResult);
+    });
+
     it('returns no tokens if there is no selected account group', () => {
       const result = selectAssetsBySelectedAccountGroup({
         ...mockedMergedState,
diff --git a/packages/assets-controllers/src/selectors/token-selectors.ts b/packages/assets-controllers/src/selectors/token-selectors.ts
index af409382d40..4b6e7dc2b7d 100644
--- a/packages/assets-controllers/src/selectors/token-selectors.ts
+++ b/packages/assets-controllers/src/selectors/token-selectors.ts
@@ -140,6 +140,10 @@ const selectAccountsToGroupIdMap = createAssetListSelector(
         for (const accountId of accounts) {
           const internalAccount = internalAccounts.accounts[accountId];
 
+          if (!internalAccount) {
+            continue;
+          }
+
           accountsMap[
             // TODO: We would not need internalAccounts if evmTokens state had the accountId
             internalAccount.type.startsWith('eip155')