A method and system for securely replicating encrypted deduplicated storages. Specifically, the method and system disclosed herein entail the replication and migration of encrypted data between storage systems that support deduplication. More specifically, a first encrypted data, which may have been encrypted using a first public cryptographic key and consolidated on a source storage system, may be translated into an interim (yet still encrypted) state using a first split private cryptographic key. Thereafter, using a compound conversion key, the interim state data may be further translated into a second encrypted data, which may be characterized as being encrypted by a second public cryptographic key. Therefore, substantively, the method and system disclosed herein may be directed to the translation of encrypted data from one encryption scheme to another while in-flight from a source storage system to a target storage system.