diff --git a/beacon_node/lighthouse_network/src/service/utils.rs b/beacon_node/lighthouse_network/src/service/utils.rs
index 9a939368743..d6b18b84b2d 100644
--- a/beacon_node/lighthouse_network/src/service/utils.rs
+++ b/beacon_node/lighthouse_network/src/service/utils.rs
@@ -78,8 +78,6 @@ pub fn build_transport(
     Ok(transport)
 }
 
-// Useful helper functions for debugging. Currently not used in the client.
-#[allow(dead_code)]
 fn keypair_from_hex(hex_bytes: &str) -> Result<Keypair, String> {
     let hex_bytes = if let Some(stripped) = hex_bytes.strip_prefix("0x") {
         stripped.to_string()
@@ -92,7 +90,6 @@ fn keypair_from_hex(hex_bytes: &str) -> Result<Keypair, String> {
         .and_then(keypair_from_bytes)
 }
 
-#[allow(dead_code)]
 fn keypair_from_bytes(mut bytes: Vec<u8>) -> Result<Keypair, String> {
     secp256k1::SecretKey::try_from_bytes(&mut bytes)
         .map(|secret| {
@@ -106,21 +103,52 @@ fn keypair_from_bytes(mut bytes: Vec<u8>) -> Result<Keypair, String> {
 /// generated and is then saved to disk.
 ///
 /// Currently only secp256k1 keys are allowed, as these are the only keys supported by discv5.
+/// Supports both hex format (with or without 0x prefix) and raw bytes format.
 pub fn load_private_key(config: &NetworkConfig) -> Keypair {
     // check for key from disk
     let network_key_f = config.network_dir.join(NETWORK_KEY_FILENAME);
     if let Ok(mut network_key_file) = File::open(network_key_f.clone()) {
-        let mut key_bytes: Vec<u8> = Vec::with_capacity(36);
-        match network_key_file.read_to_end(&mut key_bytes) {
-            Err(_) => debug!("Could not read network key file"),
-            Ok(_) => {
-                // only accept secp256k1 keys for now
-                if let Ok(secret_key) = secp256k1::SecretKey::try_from_bytes(&mut key_bytes) {
-                    let kp: secp256k1::Keypair = secret_key.into();
-                    debug!("Loaded network key from disk.");
-                    return kp.into();
-                } else {
-                    debug!("Network key file is not a valid secp256k1 key");
+        // Limit read to reasonable hex key size: 32 bytes = 64 hex chars + "0x" prefix + whitespace
+        let mut buffer = vec![0u8; 70];
+        match network_key_file.read(&mut buffer) {
+            Ok(bytes_read) => {
+                if let Ok(hex_string) = String::from_utf8(buffer[..bytes_read].to_vec()) {
+                    // First try to parse as hex string
+                    let hex_content = hex_string.trim();
+                    if let Ok(keypair) = keypair_from_hex(hex_content) {
+                        debug!("Loaded network key from disk (hex format).");
+                        return keypair;
+                    }
+                }
+            }
+            Err(_) => debug!("Could not read network key file as string, trying binary format"),
+        }
+
+        // If hex parsing failed or file couldn't be read as string, try binary format
+        if let Ok(mut network_key_file) = File::open(network_key_f.clone()) {
+            let mut key_bytes: Vec<u8> = Vec::with_capacity(36);
+            match network_key_file.read_to_end(&mut key_bytes) {
+                Err(_) => debug!("Could not read network key file"),
+                Ok(_) => {
+                    // only accept secp256k1 keys for now
+                    if let Ok(secret_key) = secp256k1::SecretKey::try_from_bytes(&mut key_bytes) {
+                        let kp: secp256k1::Keypair = secret_key.clone().into();
+                        debug!("Loaded network key from disk (binary format), migrating to hex format.");
+
+                        // Migrate binary key to hex format
+                        let hex_key = hex::encode(secret_key.to_bytes());
+                        if let Err(e) = File::create(network_key_f.clone())
+                            .and_then(|mut f| f.write_all(hex_key.as_bytes()))
+                        {
+                            debug!("Failed to migrate key to hex format: {}", e);
+                        } else {
+                            debug!("Successfully migrated key to hex format.");
+                        }
+
+                        return kp.into();
+                    } else {
+                        debug!("Network key file is not a valid secp256k1 key");
+                    }
                 }
             }
         }
@@ -129,9 +157,8 @@ pub fn load_private_key(config: &NetworkConfig) -> Keypair {
     // if a key could not be loaded from disk, generate a new one and save it
     let local_private_key = secp256k1::Keypair::generate();
     let _ = std::fs::create_dir_all(&config.network_dir);
-    match File::create(network_key_f.clone())
-        .and_then(|mut f| f.write_all(&local_private_key.secret().to_bytes()))
-    {
+    let hex_key = hex::encode(local_private_key.secret().to_bytes());
+    match File::create(network_key_f.clone()).and_then(|mut f| f.write_all(hex_key.as_bytes())) {
         Ok(_) => {
             debug!("New network key generated and written to disk");
         }