diff --git a/Cargo.lock b/Cargo.lock
index 7ce5a8776b33..1a270de93779 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -363,6 +363,12 @@ version = "0.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "22fb38fd6e62e4ceec8543db40ceb714454ff173451a0f2a6c8952fdf39a2d6c"
 
+[[package]]
+name = "base64ct"
+version = "1.0.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d0d27fb6b6f1e43147af148af49d49329413ba781aa0d5e10979831c210173b5"
+
 [[package]]
 name = "bcs"
 version = "0.1.2"
@@ -4966,7 +4972,7 @@ version = "0.1.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "721a49e14f1803441886c688ba8b653b52e1dcc926969081d22384e300ea4106"
 dependencies = [
- "base64ct",
+ "base64ct 0.2.0",
  "rand_core 0.6.2",
 ]
 
@@ -4978,11 +4984,11 @@ checksum = "877630b3de15c0b64cc52f659345724fbf6bdad9bd9566699fc53688f3c34a34"
 
 [[package]]
 name = "pbkdf2"
-version = "0.7.3"
+version = "0.7.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "309c95c5f738c85920eb7062a2de29f3840d4f96974453fc9ac1ba078da9c627"
+checksum = "297e1dad0e9de7af53235b833761351bf6bda57d6acb4f263b61a2ddf674f1dc"
 dependencies = [
- "base64ct",
+ "base64ct 1.0.0",
  "crypto-mac",
  "hmac",
  "password-hash",
diff --git a/testsuite/cli/diem-wallet/Cargo.toml b/testsuite/cli/diem-wallet/Cargo.toml
index 4df779b3916b..615c3d684b29 100644
--- a/testsuite/cli/diem-wallet/Cargo.toml
+++ b/testsuite/cli/diem-wallet/Cargo.toml
@@ -15,7 +15,7 @@ rand = "0.8.3"
 hex = "0.4.2"
 hmac = "0.10.1"
 byteorder = "1.4.2"
-pbkdf2 = "0.7.3"
+pbkdf2 = "0.7.4"
 serde = "1.0.123"
 sha2 = "0.9.3"
 thiserror = "1.0.24"