diff --git a/Cargo.lock b/Cargo.lock
index 289d3fab..edf1a61f 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -415,7 +415,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "6c85783c2fe40083ea54a33aa2f0ba58831d90fcd190f5bdc47e74e84d2a96ae"
 dependencies = [
  "bech32 0.10.0-beta",
- "bitcoin-internals",
+ "bitcoin-internals 0.2.0",
  "bitcoin_hashes 0.13.0",
  "hex-conservative 0.1.2",
  "hex_lit",
@@ -432,11 +432,20 @@ dependencies = [
  "serde",
 ]
 
+[[package]]
+name = "bitcoin-internals"
+version = "0.4.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "2b854212e29b96c8f0fe04cab11d57586c8f3257de0d146c76cb3b42b3eb9118"
+
 [[package]]
 name = "bitcoin-io"
-version = "0.1.3"
+version = "0.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0b47c4ab7a93edb0c7198c5535ed9b52b63095f4e9b45279c6736cec4b856baf"
+checksum = "26792cd2bf245069a1c5acb06aa7ad7abe1de69b507c90b490bca81e0665d0ee"
+dependencies = [
+ "bitcoin-internals 0.4.0",
+]
 
 [[package]]
 name = "bitcoin-private"
@@ -460,19 +469,19 @@ version = "0.13.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "1930a4dabfebb8d7d9992db18ebe3ae2876f0a305fab206fd168df931ede293b"
 dependencies = [
- "bitcoin-internals",
+ "bitcoin-internals 0.2.0",
  "hex-conservative 0.1.2",
  "serde",
 ]
 
 [[package]]
 name = "bitcoin_hashes"
-version = "0.14.0"
+version = "0.16.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bb18c03d0db0247e147a21a6faafd5a7eb851c743db062de72018b6b7e8e4d16"
+checksum = "7e5d09f16329cd545d7e6008b2c6b2af3a90bc678cf41ac3d2f6755943301b16"
 dependencies = [
  "bitcoin-io",
- "hex-conservative 0.2.1",
+ "hex-conservative 0.3.0",
 ]
 
 [[package]]
@@ -1584,9 +1593,9 @@ checksum = "212ab92002354b4819390025006c897e8140934349e8635c9b077f47b4dcbd20"
 
 [[package]]
 name = "hex-conservative"
-version = "0.2.1"
+version = "0.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5313b072ce3c597065a808dbf612c4c8e8590bdbf8b579508bf7a762c5eae6cd"
+checksum = "4afe881d0527571892c4034822e59bb10c6c991cce6abe8199b6f5cf10766f55"
 dependencies = [
  "arrayvec",
 ]
@@ -2386,7 +2395,7 @@ version = "0.2.1"
 dependencies = [
  "anyhow",
  "base64 0.22.1",
- "bitcoin_hashes 0.14.0",
+ "bitcoin_hashes 0.16.0",
  "criterion",
  "getrandom",
  "hex",
diff --git a/moksha-core/Cargo.toml b/moksha-core/Cargo.toml
index e08a8a91..3118b2eb 100644
--- a/moksha-core/Cargo.toml
+++ b/moksha-core/Cargo.toml
@@ -14,7 +14,7 @@ path = "src/lib.rs"
 anyhow = { workspace = true }
 url = { workspace = true }
 base64 = { workspace = true }
-bitcoin_hashes = "0.14.0"
+bitcoin_hashes = "0.16.0"
 secp256k1 = { workspace = true, default-features = true, features = [
     "rand",
     "serde",