diff --git a/Cargo.lock b/Cargo.lock
index 2bad5f54e5..b1f5faed16 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -8209,9 +8209,9 @@ dependencies = [
 
 [[package]]
 name = "serde_with"
-version = "3.3.0"
+version = "3.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1ca3b16a3d82c4088f343b7480a93550b3eabe1a358569c2dfe38bbcead07237"
+checksum = "64cd236ccc1b7a29e7e2739f27c0b2dd199804abc4290e32f59f3b68d6405c23"
 dependencies = [
  "base64 0.21.5",
  "chrono",
@@ -8224,9 +8224,9 @@ dependencies = [
 
 [[package]]
 name = "serde_with_macros"
-version = "3.3.0"
+version = "3.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2e6be15c453eb305019bfa438b1593c731f36a289a7853f7707ee29e870b3b3c"
+checksum = "93634eb5f75a2323b16de4748022ac4297f9e76b6dced2be287a099f41b5e788"
 dependencies = [
  "darling",
  "proc-macro2",
diff --git a/consensus/service/config/Cargo.toml b/consensus/service/config/Cargo.toml
index b4f7f41c49..0682a37676 100644
--- a/consensus/service/config/Cargo.toml
+++ b/consensus/service/config/Cargo.toml
@@ -27,6 +27,6 @@ hex = "0.4"
 pem = "3.0"
 serde = { version = "1.0", default-features = false, features = ["alloc", "derive"] }
 serde_json = "1.0"
-serde_with = { version = "3.3", default-features = false }
+serde_with = { version = "3.4", default-features = false }
 toml = "0.8"
 
diff --git a/light-client/verifier/Cargo.toml b/light-client/verifier/Cargo.toml
index be26891f6a..479a0fd773 100644
--- a/light-client/verifier/Cargo.toml
+++ b/light-client/verifier/Cargo.toml
@@ -11,7 +11,7 @@ base64 = "0.21"
 displaydoc = "0.2"
 prost = { version = "0.12", default-features = false, features = ["prost-derive"] }
 serde = { version = "1.0", default-features = false, features = ["alloc", "derive"] }
-serde_with = { version = "3.3", default-features = false, features = ["hex"] }
+serde_with = { version = "3.4", default-features = false, features = ["hex"] }
 
 mc-blockchain-types = { path = "../../blockchain/types" }
 mc-common = { path = "../../common" }