diff --git a/tools/src/main/java/org/bitcoinj/tools/WalletTool.java b/tools/src/main/java/org/bitcoinj/tools/WalletTool.java
index b4430a00..0211ede9 100644
--- a/tools/src/main/java/org/bitcoinj/tools/WalletTool.java
+++ b/tools/src/main/java/org/bitcoinj/tools/WalletTool.java
@@ -1406,19 +1406,13 @@ public class WalletTool {
         long creationTimeSeconds = getCreationTimeSeconds();
         if (options.has("privkey")) {
             String data = (String) options.valueOf("privkey");
-            if (data.startsWith("5J") || data.startsWith("5H") || data.startsWith("5K")) {
-                DumpedPrivateKey dpk;
-                try {
-                    dpk = DumpedPrivateKey.fromBase58(params, data);
-                } catch (AddressFormatException e) {
-                    System.err.println("Could not parse dumped private key " + data);
-                    return;
-                }
+            try {
+                DumpedPrivateKey dpk = DumpedPrivateKey.fromBase58(params, data); // WIF
                 key = dpk.getKey();
-            } else {
+            } catch (AddressFormatException e) {
                 byte[] decode = parseAsHexOrBase58(data);
                 if (decode == null) {
-                    System.err.println("Could not understand --privkey as either hex or base58: " + data);
+                    System.err.println("Could not understand --privkey as either WIF, hex or base58: " + data);
                     return;
                 }
                 key = ECKey.fromPrivate(new BigInteger(1, decode));
diff --git a/tools/src/main/resources/org/bitcoinj/tools/wallet-tool-help.txt b/tools/src/main/resources/org/bitcoinj/tools/wallet-tool-help.txt
index 1dce207f..a9a618a4 100644
--- a/tools/src/main/resources/org/bitcoinj/tools/wallet-tool-help.txt
+++ b/tools/src/main/resources/org/bitcoinj/tools/wallet-tool-help.txt
@@ -19,7 +19,7 @@ Usage: wallet-tool --flags action-name
   add-key              Adds a new key to the wallet, either specified or freshly generated.
                        If --date is specified, that's the creation date.
                        If --unixtime is specified, that's the creation time and it overrides --date.
-                       If --privkey is specified, use as a hex/base58 encoded private key.
+                       If --privkey is specified, use as a WIF-, hex- or base58-encoded private key.
                        Don't specify --pubkey in that case, it will be derived automatically.
                        If --pubkey is specified, use as a hex/base58 encoded non-compressed public key.
                        If --lookahead-size is specified, pre-generate at least this many keys ahead of where we are.