diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4508cbbe8..34df15759 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -95,6 +95,7 @@ needed to include double quotes around the hexadecimal string.
 - [#2184](https://github.com/NibiruChain/nibiru/pull/2184) - test(evm): e2e tests configuration enhancements
 - [#2187](https://github.com/NibiruChain/nibiru/pull/2187) - fix(evm): fix eip55 address encoding
 - [#2188](https://github.com/NibiruChain/nibiru/pull/2188) - refactor(evm): update logs emission
+- [#2192](https://github.com/NibiruChain/nibiru/pull/2192) - fix(oracle): correctly handle misscount
 
 #### Nibiru EVM | Before Audit 2 - 2024-12-06
 
diff --git a/x/oracle/keeper/ballot.go b/x/oracle/keeper/ballot.go
index 134523136..942c8b1dd 100644
--- a/x/oracle/keeper/ballot.go
+++ b/x/oracle/keeper/ballot.go
@@ -159,6 +159,7 @@ func Tally(
 		rewardSpread = standardDeviation
 	}
 
+	missedValidators := make(map[string]bool)
 	for _, v := range votes {
 		// Filter votes winners & abstain voters
 		isInsideSpread := v.ExchangeRate.GTE(weightedMedian.Sub(rewardSpread)) &&
@@ -173,7 +174,11 @@ func Tally(
 			validatorPerformance.RewardWeight += v.Power
 			validatorPerformance.WinCount++
 		case isMiss:
-			validatorPerformance.MissCount++
+			// Only count a miss once per validator
+			if !missedValidators[v.Voter.String()] {
+				validatorPerformance.MissCount++
+				missedValidators[v.Voter.String()] = true
+			}
 		case isAbstainVote:
 			validatorPerformance.AbstainCount++
 		}
diff --git a/x/oracle/keeper/ballot_test.go b/x/oracle/keeper/ballot_test.go
index bae2ed21a..46dee0c53 100644
--- a/x/oracle/keeper/ballot_test.go
+++ b/x/oracle/keeper/ballot_test.go
@@ -202,6 +202,43 @@ func TestFuzzTally(t *testing.T) {
 	})
 }
 
+func TestTallyMissCount(t *testing.T) {
+	fixture := CreateTestFixture(t)
+
+	power := int64(100)
+	amt := sdk.TokensFromConsensusPower(power, sdk.DefaultPowerReduction)
+	sh := stakingkeeper.NewMsgServerImpl(&fixture.StakingKeeper)
+
+	// Validator created
+	_, err := sh.CreateValidator(fixture.Ctx, NewTestMsgCreateValidator(ValAddrs[0], ValPubKeys[0], amt))
+	require.NoError(t, err)
+	_, err = sh.CreateValidator(fixture.Ctx, NewTestMsgCreateValidator(ValAddrs[1], ValPubKeys[1], amt))
+	require.NoError(t, err)
+	_, err = sh.CreateValidator(fixture.Ctx, NewTestMsgCreateValidator(ValAddrs[2], ValPubKeys[2], amt))
+	require.NoError(t, err)
+	staking.EndBlocker(fixture.Ctx, &fixture.StakingKeeper)
+
+	pairBtc := asset.Registry.Pair(denoms.BTC, denoms.NUSD)
+	pairEth := asset.Registry.Pair(denoms.ETH, denoms.NUSD)
+	// Having validator2 to have 2 votes outside the spread
+	btcVotes := types.ExchangeRateVotes{
+		{Pair: pairBtc, ExchangeRate: math.LegacyNewDec(17), Voter: ValAddrs[0], Power: power},
+		{Pair: pairBtc, ExchangeRate: math.LegacyNewDec(10), Voter: ValAddrs[1], Power: power},
+		{Pair: pairBtc, ExchangeRate: math.LegacyNewDec(20000), Voter: ValAddrs[2], Power: power},
+	}
+	ethVotes := types.ExchangeRateVotes{
+		{Pair: pairEth, ExchangeRate: math.LegacyNewDec(1_000), Voter: ValAddrs[0], Power: power},
+		{Pair: pairEth, ExchangeRate: math.LegacyNewDec(1_300), Voter: ValAddrs[1], Power: power},
+		{Pair: pairEth, ExchangeRate: math.LegacyNewDec(1), Voter: ValAddrs[2], Power: power},
+	}
+
+	allVotes := append(btcVotes, ethVotes...)
+
+	claimMap := types.ValidatorPerformances{}
+	Tally(allVotes, math.LegacyNewDec(10), claimMap)
+	assert.Equal(t, int64(1), claimMap[ValAddrs[2].String()].MissCount)
+}
+
 type VoteMap = map[asset.Pair]types.ExchangeRateVotes
 
 func TestRemoveInvalidBallots(t *testing.T) {