diff --git a/submodules/evm-tx/collect.go b/submodules/evm-tx/collect.go
index fb27a6a..f87d149 100644
--- a/submodules/evm-tx/collect.go
+++ b/submodules/evm-tx/collect.go
@@ -22,6 +22,11 @@ import (
 	"github.com/initia-labs/kvindexer/submodules/tx/types"
 )
 
+const (
+	lenTransferTopic = 4
+	transferTopic    = "0xddf252ad1be2c89b69c2b068fc378daa952ba7f163c4a11628f55a4df523b3ef"
+)
+
 func (sm EvmTxSubmodule) finalizeBlock(ctx context.Context, req abci.RequestFinalizeBlock, res abci.ResponseFinalizeBlock) error {
 	sm.Logger(ctx).Debug("finalizeBlock", "submodule", types.SubmoduleName, "txs", len(req.Txs), "height", req.Height)
 
@@ -115,11 +120,11 @@ func grepAddressesFromTx(txr *sdk.TxResponse) ([]string, error) {
 
 			switch {
 			case event.Type == evmtypes.EventTypeEVM && attr.Key == evmtypes.AttributeKeyLog:
-				contractAddr, err := extractAddressesFromEVMLog(attr.Value)
+				contractAddrs, err := extractAddressesFromEVMLog(attr.Value)
 				if err != nil {
 					continue
 				}
-				addrs = append(addrs, contractAddr)
+				addrs = append(addrs, contractAddrs...)
 			case (event.Type == evmtypes.EventTypeCreate || event.Type == evmtypes.EventTypeCall) && attr.Key == evmtypes.AttributeKeyContract:
 				addr, err := convertContractAddressToBech32(attr.Value)
 				if err != nil {
@@ -144,12 +149,32 @@ func grepAddressesFromTx(txr *sdk.TxResponse) ([]string, error) {
 	return grepped, nil
 }
 
-func extractAddressesFromEVMLog(attrVal string) (string, error) {
+func extractAddressesFromEVMLog(attrVal string) (addrs []string, err error) {
 	log := evmtypes.Log{}
-	if err := json.Unmarshal([]byte(attrVal), &log); err != nil {
-		return "", err
+	if err = json.Unmarshal([]byte(attrVal), &log); err != nil {
+		return
+	}
+	var addr string
+	addr, err = convertContractAddressToBech32(log.Address)
+	if err == nil {
+		addrs = append(addrs, addr)
+	}
+
+	// if the topic is about transfer, we need to extract the addresses from the topics.
+	// Topics[1] is the sender, Topics[2] is the receiver.
+	if log.Topics != nil && len(log.Topics) == lenTransferTopic {
+		if log.Topics[0] == transferTopic {
+			addr, err = convertContractAddressToBech32(log.Topics[1])
+			if err == nil {
+				addrs = append(addrs, addr)
+			}
+			addr, err = convertContractAddressToBech32(log.Topics[2])
+			if err == nil {
+				addrs = append(addrs, addr)
+			}
+		}
 	}
-	return convertContractAddressToBech32(log.Address)
+	return
 }
 
 func (sm EvmTxSubmodule) storeAccTxs(ctx context.Context, addr string, txHashes []string) error {
diff --git a/submodules/evm-tx/types/keys.go b/submodules/evm-tx/types/keys.go
index 692c0a0..d0aa95d 100644
--- a/submodules/evm-tx/types/keys.go
+++ b/submodules/evm-tx/types/keys.go
@@ -5,7 +5,7 @@ const (
 	SubmoduleName = "evm-tx"
 
 	// Version is the current version of the submodule
-	Version = "v0.1.0"
+	Version = "v0.1.1"
 )
 
 // store prefixes