diff --git a/Cargo.lock b/Cargo.lock
index 1ad59291eca27..e92d67f3cf9ee 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -9223,19 +9223,18 @@ dependencies = [
 
 [[package]]
 name = "secp256k1"
-version = "0.21.2"
+version = "0.24.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ab7883017d5b21f011ef8040ea9c6c7ac90834c0df26a69e4c0b06276151f125"
+checksum = "ff55dc09d460954e9ef2fa8a7ced735a964be9981fd50e870b2b3b0705e14964"
 dependencies = [
- "rand 0.6.5",
  "secp256k1-sys",
 ]
 
 [[package]]
 name = "secp256k1-sys"
-version = "0.4.2"
+version = "0.6.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "957da2573cde917463ece3570eab4a0b3f19de6f1646cde62e6fd3868f566036"
+checksum = "83080e2c2fc1006e625be82e5d1eb6a43b7fd9578b617fcc55814daf286bba4b"
 dependencies = [
  "cc",
 ]
diff --git a/primitives/core/Cargo.toml b/primitives/core/Cargo.toml
index 55d00362033d0..0c66c03220327 100644
--- a/primitives/core/Cargo.toml
+++ b/primitives/core/Cargo.toml
@@ -56,7 +56,7 @@ schnorrkel = { version = "0.9.1", features = [
 hex = { version = "0.4", default-features = false, optional = true }
 libsecp256k1 = { version = "0.7", default-features = false, features = ["static-context"], optional = true }
 merlin = { version = "2.0", default-features = false, optional = true }
-secp256k1 = { version = "0.21.2", default-features = false, features = ["recovery", "alloc"], optional = true }
+secp256k1 = { version = "0.24.1", default-features = false, features = ["recovery", "alloc"], optional = true }
 ss58-registry = { version = "1.11.0", default-features = false }
 sp-core-hashing = { version = "4.0.0", path = "./hashing", default-features = false, optional = true }
 sp-runtime-interface = { version = "6.0.0", default-features = false, path = "../runtime-interface" }
diff --git a/primitives/io/Cargo.toml b/primitives/io/Cargo.toml
index c51e34b861b9b..b271899e0713e 100644
--- a/primitives/io/Cargo.toml
+++ b/primitives/io/Cargo.toml
@@ -30,7 +30,7 @@ sp-tracing = { version = "5.0.0", default-features = false, path = "../tracing"
 log = { version = "0.4.8", optional = true }
 futures = { version = "0.3.19", features = ["thread-pool"], optional = true }
 parking_lot = { version = "0.12.0", optional = true }
-secp256k1 = { version = "0.21.2", features = ["recovery", "global-context"], optional = true }
+secp256k1 = { version = "0.24.1", features = ["recovery", "global-context"], optional = true }
 tracing = { version = "0.1.29", default-features = false }
 tracing-core = { version = "0.1.17", default-features = false}