diff --git a/Cargo.lock b/Cargo.lock
index a8b97ff26f5f..d99c736844e4 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -203,9 +203,9 @@ version = "0.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a3548b8efc9f8e8a5a0a2808c5bd8451a9031b9e5b879a79590304ae928b0a70"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -214,9 +214,9 @@ version = "0.1.48"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "36ea56748e10732c49404c153638a15ec3d6211ec5ff35d9bb20e13b93576adf"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -393,7 +393,7 @@ dependencies = [
  "lazycell",
  "log",
  "peeking_take_while",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
  "regex",
  "rustc-hash",
@@ -1488,9 +1488,9 @@ version = "0.0.1"
 dependencies = [
  "anyhow",
  "diem-workspace-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -1835,9 +1835,9 @@ name = "diem-log-derive"
 version = "0.1.0"
 dependencies = [
  "diem-workspace-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -2133,7 +2133,7 @@ name = "diem-smoke-test-attribute"
 version = "0.1.0"
 dependencies = [
  "diem-workspace-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
 ]
 
@@ -2419,7 +2419,7 @@ dependencies = [
  "standback",
  "subtle",
  "syn 0.15.44",
- "syn 1.0.62",
+ "syn 1.0.103",
  "tokio",
  "tokio-util",
  "toml",
@@ -2709,9 +2709,9 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "8946e241a7774d5327d92749c50806f275f57d031d2229ecbfd65469a8ad338e"
 dependencies = [
  "once_cell",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -3091,9 +3091,9 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c287d25add322d9f9abdcdc5927ca398917996600182178774032e9f8258fedd"
 dependencies = [
  "proc-macro-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -3599,9 +3599,9 @@ checksum = "327869970574819d24d1dca25c891856144d29159ab797fa9dc725c5c3f57215"
 dependencies = [
  "anyhow",
  "proc-macro-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -4775,9 +4775,9 @@ version = "0.3.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "876a53fff98e03a936a674b29568b0e605f06b29372c2489ff4de23f1949743d"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -4839,9 +4839,9 @@ name = "num-variants"
 version = "0.1.0"
 dependencies = [
  "diem-workspace-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -5042,9 +5042,9 @@ checksum = "99b8db626e31e5b81787b9783425769681b347011cc59471e33ea46d2ea0cf55"
 dependencies = [
  "pest",
  "pest_meta",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -5083,9 +5083,9 @@ version = "1.0.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "758669ae3558c6f74bd2a18b41f7ac0b5a195aea6639d6a9b5e5d1ad5ba24c0b"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -5193,9 +5193,9 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "da25490ff9892aab3fcf7c36f08cfb902dd3e71ca0f9f9517bea02a73a5ce38c"
 dependencies = [
  "proc-macro-error-attr",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
  "version_check",
 ]
 
@@ -5205,7 +5205,7 @@ version = "1.0.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a1be40180e52ecc98ad80b184934baf3d0d29f979574e439af5a55274b35f869"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
  "version_check",
 ]
@@ -5233,11 +5233,11 @@ dependencies = [
 
 [[package]]
 name = "proc-macro2"
-version = "1.0.24"
+version = "1.0.47"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1e0704ee1a7e00d7bb417d0770ea303c1bccbabf0ef1667dae92b5967f5f8a71"
+checksum = "5ea3d908b0e36316caf9e9e2c4625cdde190a7e6f440d794667ed17a1855e725"
 dependencies = [
- "unicode-xid 0.2.1",
+ "unicode-ident",
 ]
 
 [[package]]
@@ -5321,9 +5321,9 @@ checksum = "169a15f3008ecb5160cba7d37bcd690a7601b6d30cfb87a117d45e59d52af5d4"
 dependencies = [
  "anyhow",
  "itertools 0.9.0",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -5380,7 +5380,7 @@ version = "1.0.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c3d0b9745dc2debf507c8422de05d7226cc1f0644216dfdfead988f9b1ab32a7"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
 ]
 
 [[package]]
@@ -5702,9 +5702,9 @@ version = "1.0.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "4c38e3aecd2b21cb3959637b883bb3714bc7e43f0268b9a29d3743ee3e55cdd2"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -5759,9 +5759,9 @@ version = "0.5.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "475e68978dc5b743f2f40d8e0a8fdc83f1c5e78cbf4b8fa5e74e73beebc340de"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -6248,9 +6248,9 @@ dependencies = [
 
 [[package]]
 name = "serde"
-version = "1.0.124"
+version = "1.0.147"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bd761ff957cb2a45fbb9ab3da6512de9de55872866160b23c25f1a841e99d29f"
+checksum = "d193d69bae983fc11a79df82342761dfbf28a99fc8d203dca4c3c1b590948965"
 dependencies = [
  "serde_derive",
 ]
@@ -6325,13 +6325,13 @@ dependencies = [
 
 [[package]]
 name = "serde_derive"
-version = "1.0.124"
+version = "1.0.147"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1800f7693e94e186f5e25a28291ae1570da908aff7d97a095dec1e56ff99069b"
+checksum = "4f1d362ca8fc9c3e3a7484440752472d68a6caa98f1ab81d99b5dfe517cec852"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -6399,9 +6399,9 @@ version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "b2acd6defeddb41eb60bb468f8825d0cfd0c2a76bc03bfd235b6a1dc4f6a1ad5"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -6726,11 +6726,11 @@ version = "0.5.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c87a60a40fccc84bef0652345bbbbbe20a605bf5d0ce81719fc476f5c03b50ef"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
  "serde",
  "serde_derive",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -6740,13 +6740,13 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "58fa5ff6ad0d98d1ffa8cb115892b6e69d67799f6763e162a1c9db421dc22e11"
 dependencies = [
  "base-x",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
  "serde",
  "serde_derive",
  "serde_json",
  "sha1",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -6861,9 +6861,9 @@ checksum = "5ba9cdfda491b814720b6b06e0cac513d922fc407582032e8706e9f137976f90"
 dependencies = [
  "heck",
  "proc-macro-error",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -6918,13 +6918,13 @@ dependencies = [
 
 [[package]]
 name = "syn"
-version = "1.0.62"
+version = "1.0.103"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "123a78a3596b24fee53a6464ce52d8ecbf62241e6294c7e7fe12086cd161f512"
+checksum = "a864042229133ada95abf3b54fdc62ef5ccabe9515b64717bcb9a1919e59445d"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "unicode-xid 0.2.1",
+ "unicode-ident",
 ]
 
 [[package]]
@@ -6933,9 +6933,9 @@ version = "0.12.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "b834f2d66f734cb897113e34aaff2f1ab4719ca946f9a7358dba8f8064148701"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
  "unicode-xid 0.2.1",
 ]
 
@@ -7092,9 +7092,9 @@ version = "1.0.24"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "7765189610d8241a44529806d6fd1f2e0a08734313a35d5b3a556f92b381f3c0"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -7149,10 +7149,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "e5c3be1edfad6027c69f5491cf4cb310d1a71ecd6af742788c6ff8bced86b8fa"
 dependencies = [
  "proc-macro-hack",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
  "standback",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -7225,9 +7225,9 @@ version = "1.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "caf7b11a536f46a809a8a9f0bb4237020f70ecbf115b842360afb127ea2fda57"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -7370,9 +7370,9 @@ version = "0.1.13"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a8a9bd1db7706f2373a190b0d067146caa39350c486f3d455b0e33b431f94c07"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
 ]
 
 [[package]]
@@ -7530,6 +7530,12 @@ dependencies = [
  "matches",
 ]
 
+[[package]]
+name = "unicode-ident"
+version = "1.0.5"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "6ceab39d59e4c9499d4e5a8ee0e2735b891bb7308ac83dfb4e80cad195c9f6f3"
+
 [[package]]
 name = "unicode-normalization"
 version = "0.1.17"
@@ -7812,9 +7818,9 @@ dependencies = [
  "bumpalo",
  "lazy_static",
  "log",
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
  "wasm-bindgen-shared",
 ]
 
@@ -7846,9 +7852,9 @@ version = "0.2.71"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "cc053ec74d454df287b9374ee8abb36ffd5acb95ba87da3ba5b7d3fe20eb401e"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
  "wasm-bindgen-backend",
  "wasm-bindgen-shared",
 ]
@@ -8047,8 +8053,8 @@ version = "1.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c3f369ddb18862aba61aa49bf31e74d29f0f162dec753063200e1dc084345d16"
 dependencies = [
- "proc-macro2 1.0.24",
+ "proc-macro2 1.0.47",
  "quote 1.0.9",
- "syn 1.0.62",
+ "syn 1.0.103",
  "synstructure",
 ]
diff --git a/client/faucet/Cargo.toml b/client/faucet/Cargo.toml
index 0722c3236a08..a7d869d88f08 100644
--- a/client/faucet/Cargo.toml
+++ b/client/faucet/Cargo.toml
@@ -14,7 +14,7 @@ anyhow = "1.0.38"
 hex = "0.4.3"
 rand = "0.8.3"
 reqwest = { version = "0.11.2", features = ["blocking"], default-features = false }
-serde = "1.0.124"
+serde = "1.0.147"
 serde_derive = "1.0.117"
 structopt = "0.3.21"
 tokio = { version = "1.3.0", features = ["full"] }
diff --git a/client/json-rpc/Cargo.toml b/client/json-rpc/Cargo.toml
index 5f417fbbaf78..60435d2c30c3 100644
--- a/client/json-rpc/Cargo.toml
+++ b/client/json-rpc/Cargo.toml
@@ -16,7 +16,7 @@ futures = "0.3.12"
 hex = "0.4.3"
 rand = "0.8.3"
 reqwest = { version = "0.11.2", features = ["blocking", "json"], default_features = false }
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_json = "1.0.64"
 tokio = { version = "1.3.0", features = ["full"] }
 
diff --git a/client/swiss-knife/Cargo.toml b/client/swiss-knife/Cargo.toml
index 911e1e134275..4582d8ecfff2 100644
--- a/client/swiss-knife/Cargo.toml
+++ b/client/swiss-knife/Cargo.toml
@@ -14,7 +14,7 @@ structopt = "0.3.21"
 rand = "0.8.3"
 hex = "0.4.3"
 serde_json = "1.0.64"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 bcs = "0.1.2"
 diem-types = { path = "../../types" }
diff --git a/client/transaction-builder/Cargo.toml b/client/transaction-builder/Cargo.toml
index a6730ddc2eda..e7e61584c4a7 100644
--- a/client/transaction-builder/Cargo.toml
+++ b/client/transaction-builder/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 bcs = "0.1.2"
 once_cell = "1.7.2"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 move-core-types = { path = "../../language/move-core/types", version = "0.0.1" }
 diem-types = { path = "../../types", version = "0.0.1" }
diff --git a/common/bitvec/Cargo.toml b/common/bitvec/Cargo.toml
index 04d3cdc70538..f3234804f719 100644
--- a/common/bitvec/Cargo.toml
+++ b/common/bitvec/Cargo.toml
@@ -13,7 +13,7 @@ edition = "2018"
 diem-workspace-hack = { path = "../workspace-hack" }
 proptest = { version = "1.0.0", default-features = true, optional = true }
 proptest-derive = { version = "0.3.0", optional = true }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_bytes = "0.11.5"
 
 [dev-dependencies]
diff --git a/common/crash-handler/Cargo.toml b/common/crash-handler/Cargo.toml
index 5be2d95a514e..8ad2e3a611f6 100644
--- a/common/crash-handler/Cargo.toml
+++ b/common/crash-handler/Cargo.toml
@@ -15,4 +15,4 @@ toml = "0.5.8"
 
 diem-logger = { path = "../logger" }
 diem-workspace-hack = { path = "../workspace-hack" }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
diff --git a/common/diemdoc/Cargo.toml b/common/diemdoc/Cargo.toml
index c5650d8e7721..f54e8b4590ba 100644
--- a/common/diemdoc/Cargo.toml
+++ b/common/diemdoc/Cargo.toml
@@ -21,7 +21,7 @@ once_cell = "1.7.2"
 diem-workspace-hack = { path = "../workspace-hack" }
 
 [dev-dependencies]
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 tempfile = "3.2.0"
 
 [features]
diff --git a/common/logger/Cargo.toml b/common/logger/Cargo.toml
index cfc6372fb322..c6458745d39d 100644
--- a/common/logger/Cargo.toml
+++ b/common/logger/Cargo.toml
@@ -20,6 +20,6 @@ diem-log-derive = { path = "derive" }
 diem-infallible = { path = "../infallible" }
 diem-workspace-hack = { path = "../workspace-hack" }
 once_cell = "1.7.2"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 prometheus = { version = "0.12.0", default-features = false }
diff --git a/common/nibble/Cargo.toml b/common/nibble/Cargo.toml
index ef01cf54c8a0..8a88ea50b215 100644
--- a/common/nibble/Cargo.toml
+++ b/common/nibble/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 diem-workspace-hack = { path = "../workspace-hack" }
 proptest = { version = "1.0.0", optional = true }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 [features]
 default = []
diff --git a/common/short-hex-str/Cargo.toml b/common/short-hex-str/Cargo.toml
index 28f31b3ac0ec..4d721e9d9ed5 100644
--- a/common/short-hex-str/Cargo.toml
+++ b/common/short-hex-str/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 mirai-annotations = "1.10.1"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 static_assertions = "1.1.0"
 thiserror = "1.0.24"
 
diff --git a/common/trace/Cargo.toml b/common/trace/Cargo.toml
index a250510dac9d..573dedbe923a 100644
--- a/common/trace/Cargo.toml
+++ b/common/trace/Cargo.toml
@@ -14,7 +14,7 @@ chrono = "0.4.19"
 structopt = "0.3.21"
 tokio = { version = "1.3.0", features = ["full"] }
 serde_json = "1.0.64"
-serde = "1.0.124"
+serde = "1.0.147"
 anyhow = "1.0.38"
 reqwest = { version = "0.11.2", features = ["blocking", "json"], default_features = false }
 once_cell = "1.7.2"
diff --git a/common/workspace-hack/Cargo.toml b/common/workspace-hack/Cargo.toml
index 04424531ee81..59a185394ada 100644
--- a/common/workspace-hack/Cargo.toml
+++ b/common/workspace-hack/Cargo.toml
@@ -44,7 +44,7 @@ regex = { version = "1.4.3", features = ["aho-corasick", "default", "memchr", "p
 regex-syntax = { version = "0.6.22", features = ["default", "unicode", "unicode-age", "unicode-bool", "unicode-case", "unicode-gencat", "unicode-perl", "unicode-script", "unicode-segment"] }
 reqwest = { version = "0.11.2", features = ["__tls", "blocking", "default", "default-tls", "hyper-tls", "json", "native-tls", "native-tls-crate", "serde_json", "stream", "tokio-native-tls"] }
 rusty-fork = { version = "0.3.0", features = ["default", "timeout", "wait-timeout"] }
-serde = { version = "1.0.124", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
+serde = { version = "1.0.147", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
 serde_json = { version = "1.0.64", features = ["default", "indexmap", "preserve_order", "std"] }
 standback = { version = "0.2.15", default-features = false, features = ["std"] }
 subtle = { version = "2.4.0", default-features = false, features = ["std"] }
@@ -92,7 +92,7 @@ regex = { version = "1.4.3", features = ["aho-corasick", "default", "memchr", "p
 regex-syntax = { version = "0.6.22", features = ["default", "unicode", "unicode-age", "unicode-bool", "unicode-case", "unicode-gencat", "unicode-perl", "unicode-script", "unicode-segment"] }
 reqwest = { version = "0.11.2", features = ["__tls", "blocking", "default", "default-tls", "hyper-tls", "json", "native-tls", "native-tls-crate", "serde_json", "stream", "tokio-native-tls"] }
 rusty-fork = { version = "0.3.0", features = ["default", "timeout", "wait-timeout"] }
-serde = { version = "1.0.124", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
+serde = { version = "1.0.147", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
 serde_json = { version = "1.0.64", features = ["default", "indexmap", "preserve_order", "std"] }
 standback = { version = "0.2.15", default-features = false, features = ["std"] }
 subtle = { version = "2.4.0", default-features = false, features = ["std"] }
@@ -139,7 +139,7 @@ regex = { version = "1.4.3", features = ["aho-corasick", "default", "memchr", "p
 regex-syntax = { version = "0.6.22", features = ["default", "unicode", "unicode-age", "unicode-bool", "unicode-case", "unicode-gencat", "unicode-perl", "unicode-script", "unicode-segment"] }
 reqwest = { version = "0.11.2", features = ["__tls", "blocking", "default", "default-tls", "hyper-tls", "json", "native-tls", "native-tls-crate", "serde_json", "stream", "tokio-native-tls"] }
 rusty-fork = { version = "0.3.0", features = ["default", "timeout", "wait-timeout"] }
-serde = { version = "1.0.124", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
+serde = { version = "1.0.147", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
 serde_json = { version = "1.0.64", features = ["default", "indexmap", "preserve_order", "std"] }
 standback = { version = "0.2.15", default-features = false, features = ["std"] }
 subtle = { version = "2.4.0", default-features = false, features = ["std"] }
@@ -187,7 +187,7 @@ regex = { version = "1.4.3", features = ["aho-corasick", "default", "memchr", "p
 regex-syntax = { version = "0.6.22", features = ["default", "unicode", "unicode-age", "unicode-bool", "unicode-case", "unicode-gencat", "unicode-perl", "unicode-script", "unicode-segment"] }
 reqwest = { version = "0.11.2", features = ["__tls", "blocking", "default", "default-tls", "hyper-tls", "json", "native-tls", "native-tls-crate", "serde_json", "stream", "tokio-native-tls"] }
 rusty-fork = { version = "0.3.0", features = ["default", "timeout", "wait-timeout"] }
-serde = { version = "1.0.124", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
+serde = { version = "1.0.147", features = ["alloc", "default", "derive", "rc", "serde_derive", "std"] }
 serde_json = { version = "1.0.64", features = ["default", "indexmap", "preserve_order", "std"] }
 standback = { version = "0.2.15", default-features = false, features = ["std"] }
 subtle = { version = "2.4.0", default-features = false, features = ["std"] }
diff --git a/config/Cargo.toml b/config/Cargo.toml
index fd58d01fde79..dda41d529c20 100644
--- a/config/Cargo.toml
+++ b/config/Cargo.toml
@@ -14,7 +14,7 @@ get_if_addrs = { version = "0.5.3", default-features = false }
 log = { version = "0.4.14", features = ["serde"] }
 mirai-annotations = "1.10.1"
 rand = "0.8.3"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 serde_yaml = "0.8.17"
 thiserror = "1.0.24"
 
diff --git a/config/management/Cargo.toml b/config/management/Cargo.toml
index c3b3edc9d374..eeb8691e0a34 100644
--- a/config/management/Cargo.toml
+++ b/config/management/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 hex = "0.4.3"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 serde_yaml = "0.8.17"
 structopt = "0.3.21"
 thiserror = "1.0.24"
diff --git a/config/management/genesis/Cargo.toml b/config/management/genesis/Cargo.toml
index d009003268b4..791fdc9dfbb2 100644
--- a/config/management/genesis/Cargo.toml
+++ b/config/management/genesis/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 rand = "0.8.3"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 structopt = "0.3.21"
 thiserror = "1.0.24"
 toml = { version = "0.5.8", default-features = false }
diff --git a/config/management/network-address-encryption/Cargo.toml b/config/management/network-address-encryption/Cargo.toml
index 9093e050ce8d..83725902c9ae 100644
--- a/config/management/network-address-encryption/Cargo.toml
+++ b/config/management/network-address-encryption/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 base64 = "0.13.0"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 thiserror = "1.0.24"
 
 bcs = "0.1.2"
diff --git a/config/management/operational/Cargo.toml b/config/management/operational/Cargo.toml
index 9e583696eb86..fa2fc7756a41 100644
--- a/config/management/operational/Cargo.toml
+++ b/config/management/operational/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 hex = "0.4.3"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 serde_json = "1.0.64"
 structopt = "0.3.21"
 thiserror = "1.0.24"
diff --git a/consensus/Cargo.toml b/consensus/Cargo.toml
index 039377aed71a..6d1872b80d78 100644
--- a/consensus/Cargo.toml
+++ b/consensus/Cargo.toml
@@ -23,7 +23,7 @@ num-traits = { version = "0.2.14", default-features = false }
 once_cell = "1.7.2"
 proptest = { version = "1.0.0", optional = true }
 rand = { version = "0.8.3", default-features = false }
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_json = "1.0.64"
 termion = { version = "1.5.6", default-features = false }
 thiserror = "1.0.24"
diff --git a/consensus/consensus-types/Cargo.toml b/consensus/consensus-types/Cargo.toml
index 425ee10311aa..2b8d1d6ccb3b 100644
--- a/consensus/consensus-types/Cargo.toml
+++ b/consensus/consensus-types/Cargo.toml
@@ -10,7 +10,7 @@ edition = "2018"
 anyhow = "1.0.38"
 mirai-annotations = { version = "1.10.1", default-features = false }
 proptest = { version = "1.0.0", optional = true }
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 
 executor-types = { path = "../../execution/executor-types" }
 bcs = "0.1.2"
diff --git a/consensus/safety-rules/Cargo.toml b/consensus/safety-rules/Cargo.toml
index 5f0f8a2f8739..724c6d603781 100644
--- a/consensus/safety-rules/Cargo.toml
+++ b/consensus/safety-rules/Cargo.toml
@@ -28,7 +28,7 @@ diem-temppath = { path = "../../common/temppath" }
 diem-types = { path = "../../types" }
 diem-vault-client = { path = "../../secure/storage/vault" }
 diem-workspace-hack = { path = "../../common/workspace-hack" }
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 thiserror = "1.0.24"
 
 [dev-dependencies]
diff --git a/crypto/crypto/Cargo.toml b/crypto/crypto/Cargo.toml
index c71acff079b2..12442b539d22 100644
--- a/crypto/crypto/Cargo.toml
+++ b/crypto/crypto/Cargo.toml
@@ -23,7 +23,7 @@ proptest = { version = "1.0.0", optional = true }
 proptest-derive = { version = "0.3.0", optional = true }
 rand = "0.8.0"
 rand_core = { version = "0.6.2", default-features = false }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_bytes = "0.11.5"
 serde-name = "0.1.1"
 sha2 = "0.9.3"
diff --git a/devtools/x-core/Cargo.toml b/devtools/x-core/Cargo.toml
index bcb99222bc74..fd2d4ef12e7f 100644
--- a/devtools/x-core/Cargo.toml
+++ b/devtools/x-core/Cargo.toml
@@ -18,4 +18,4 @@ log = "0.4.14"
 toml = "0.5.8"
 once_cell = "1.7.2"
 rental = "0.5.5"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
diff --git a/devtools/x-lint/Cargo.toml b/devtools/x-lint/Cargo.toml
index 3560d3b01afa..61636a7104be 100644
--- a/devtools/x-lint/Cargo.toml
+++ b/devtools/x-lint/Cargo.toml
@@ -13,5 +13,5 @@ guppy = "0.8.0"
 hakari = "0.2.0"
 once_cell = "1.7.2"
 toml = "0.5.8"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 x-core = { path = "../x-core" }
diff --git a/devtools/x/Cargo.toml b/devtools/x/Cargo.toml
index a1f1573cd76a..a7f1e854b60c 100644
--- a/devtools/x/Cargo.toml
+++ b/devtools/x/Cargo.toml
@@ -10,7 +10,7 @@ license = "Apache-2.0"
 [dependencies]
 camino = "1.0.2"
 determinator = "0.3.0"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 structopt = "0.3.21"
 anyhow = "1.0.38"
diff --git a/execution/execution-correctness/Cargo.toml b/execution/execution-correctness/Cargo.toml
index 509b9c2bc9c9..baf3cc6fcf37 100644
--- a/execution/execution-correctness/Cargo.toml
+++ b/execution/execution-correctness/Cargo.toml
@@ -25,7 +25,7 @@ diem-temppath = { path = "../../common/temppath" }
 diem-types = { path = "../../types" }
 diem-vm = { path = "../../language/diem-vm" }
 diem-workspace-hack = { path = "../../common/workspace-hack" }
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 storage-client = { path = "../../storage/storage-client" }
 thiserror = "1.0.24"
 # this is actually a dev-dependency (see "Conditional compilation of tests" in coding_guidelines.md)
diff --git a/execution/executor-types/Cargo.toml b/execution/executor-types/Cargo.toml
index cdd0b73c28cb..56dee23b7050 100644
--- a/execution/executor-types/Cargo.toml
+++ b/execution/executor-types/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 anyhow = "1.0.38"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 thiserror = "1.0.24"
 
 bcs = "0.1.2"
diff --git a/execution/executor/Cargo.toml b/execution/executor/Cargo.toml
index 27e92a4aa534..58479c982a34 100644
--- a/execution/executor/Cargo.toml
+++ b/execution/executor/Cargo.toml
@@ -15,7 +15,7 @@ fail = "0.4.0"
 itertools = { version = "0.10.0", default-features = false }
 once_cell = "1.7.2"
 serde_json = "1.0.64"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 consensus-types = { path = "../../consensus/consensus-types"}
 executor-types = { path = "../executor-types" }
diff --git a/json-rpc/Cargo.toml b/json-rpc/Cargo.toml
index 3fb732bb76de..bd0c7f0dcde9 100644
--- a/json-rpc/Cargo.toml
+++ b/json-rpc/Cargo.toml
@@ -18,7 +18,7 @@ hyper = "0.14.4"
 once_cell = "1.7.2"
 rand = "0.8.3"
 serde_json = "1.0.64"
-serde = { version = "1.0.124", features = ["derive"], default-features = false }
+serde = { version = "1.0.147", features = ["derive"], default-features = false }
 tokio = { version = "1.3.0", features = ["full"] }
 warp = { version = "0.3.0", features = ["tls"] }
 reqwest = { version = "0.11.2", features = ["blocking", "json"], default_features = false, optional = true }
diff --git a/json-rpc/types/Cargo.toml b/json-rpc/types/Cargo.toml
index c8fadc9b4db7..9575427432a2 100644
--- a/json-rpc/types/Cargo.toml
+++ b/json-rpc/types/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 hex = "0.4.3"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_json = "1.0.64"
 prost = "0.7.0"
 
diff --git a/language/compiler/bytecode-source-map/Cargo.toml b/language/compiler/bytecode-source-map/Cargo.toml
index 2871652bf18a..31d44eb8e18d 100644
--- a/language/compiler/bytecode-source-map/Cargo.toml
+++ b/language/compiler/bytecode-source-map/Cargo.toml
@@ -16,7 +16,7 @@ vm = { path = "../../vm" }
 bcs = "0.1.2"
 codespan = "0.8.0"
 codespan-reporting = "0.8.0"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 
 [features]
 default = []
diff --git a/language/diem-tools/writeset-transaction-generator/Cargo.toml b/language/diem-tools/writeset-transaction-generator/Cargo.toml
index dcddfb554e50..1edcede3e05e 100644
--- a/language/diem-tools/writeset-transaction-generator/Cargo.toml
+++ b/language/diem-tools/writeset-transaction-generator/Cargo.toml
@@ -16,7 +16,7 @@ anyhow = "1.0.38"
 structopt = "0.3.21"
 tempfile = "3.2.0"
 handlebars = "3.5.3"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_json = "1.0.64"
 once_cell = "1.7.2"
 
diff --git a/language/diem-vm/Cargo.toml b/language/diem-vm/Cargo.toml
index 5e839a455ecb..b293ca89024e 100644
--- a/language/diem-vm/Cargo.toml
+++ b/language/diem-vm/Cargo.toml
@@ -29,7 +29,7 @@ move-vm-runtime = { path = "../move-vm/runtime" }
 move-vm-types = { path = "../move-vm/types" }
 vm = { path = "../vm" }
 serde_json = "1.0.64"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 
 [dev-dependencies]
 proptest = "1.0.0"
diff --git a/language/move-core/types/Cargo.toml b/language/move-core/types/Cargo.toml
index 6e4f66791190..200d562a8507 100644
--- a/language/move-core/types/Cargo.toml
+++ b/language/move-core/types/Cargo.toml
@@ -19,7 +19,7 @@ proptest = { version = "1.0.0", default-features = false, optional = true }
 proptest-derive = { version = "0.3.0", default-features = false, optional = true }
 rand = "0.8.3"
 ref-cast = "1.0.6"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_bytes = "0.11.5"
 thiserror = "1.0.24"
 
diff --git a/language/move-ir/types/Cargo.toml b/language/move-ir/types/Cargo.toml
index ff03389a1b7d..856742266bc9 100644
--- a/language/move-ir/types/Cargo.toml
+++ b/language/move-ir/types/Cargo.toml
@@ -14,7 +14,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 codespan = { version = "0.8.0", features = ["serialization"] }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 hex = "0.4.3"
 once_cell = "1.7.2"
 
diff --git a/language/move-model/Cargo.toml b/language/move-model/Cargo.toml
index ac297592b079..388a4f983d5c 100644
--- a/language/move-model/Cargo.toml
+++ b/language/move-model/Cargo.toml
@@ -26,7 +26,7 @@ num = "0.4.0"
 once_cell = "1.7.2"
 regex = "1.4.3"
 anyhow = "1.0.38"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 [dev-dependencies]
 datatest-stable = { path = "../../common/datatest-stable" }
diff --git a/language/move-prover/Cargo.toml b/language/move-prover/Cargo.toml
index 87bf3f156739..69d186337347 100644
--- a/language/move-prover/Cargo.toml
+++ b/language/move-prover/Cargo.toml
@@ -37,7 +37,7 @@ num = "0.4.0"
 pretty = "0.10.0"
 rand = "0.8.3"
 regex = "1.4.3"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 simplelog = "0.9.0"
 once_cell = "1.7.2"
diff --git a/language/move-prover/abigen/Cargo.toml b/language/move-prover/abigen/Cargo.toml
index 607aa40ac4a8..be6d0fd33fc2 100644
--- a/language/move-prover/abigen/Cargo.toml
+++ b/language/move-prover/abigen/Cargo.toml
@@ -18,7 +18,7 @@ bcs = "0.1.2"
 log = "0.4.14"
 anyhow = "1.0.38"
 heck = "0.3.2"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 [dev-dependencies]
 codespan-reporting = "0.8.0"
diff --git a/language/move-prover/boogie-backend/Cargo.toml b/language/move-prover/boogie-backend/Cargo.toml
index 863a7864245a..f1d09b7f0f69 100644
--- a/language/move-prover/boogie-backend/Cargo.toml
+++ b/language/move-prover/boogie-backend/Cargo.toml
@@ -18,7 +18,7 @@ itertools = "0.10.0"
 diem-types = { path = "../../../types" }
 move-core-types = { path = "../../move-core/types" }
 log = "0.4.14"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 anyhow = "1.0.37"
 once_cell = "1.7.2"
diff --git a/language/move-prover/bytecode/Cargo.toml b/language/move-prover/bytecode/Cargo.toml
index 4cb0c8a46893..ac8271bc2c37 100644
--- a/language/move-prover/bytecode/Cargo.toml
+++ b/language/move-prover/bytecode/Cargo.toml
@@ -21,7 +21,7 @@ itertools = "0.10.0"
 diem-types = { path = "../../../types" }
 move-core-types = { path = "../../move-core/types" }
 log = "0.4.14"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 once_cell = "1.7.2"
 
diff --git a/language/move-prover/docgen/Cargo.toml b/language/move-prover/docgen/Cargo.toml
index dbd607f79fed..d18a934e42ee 100644
--- a/language/move-prover/docgen/Cargo.toml
+++ b/language/move-prover/docgen/Cargo.toml
@@ -20,7 +20,7 @@ log = "0.4.14"
 num = "0.4.0"
 regex = "1.4.3"
 anyhow = "1.0.38"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 once_cell = "1.7.2"
 
 [dev-dependencies]
diff --git a/language/move-prover/errmapgen/Cargo.toml b/language/move-prover/errmapgen/Cargo.toml
index 93709b5c0b1f..13bed319a790 100644
--- a/language/move-prover/errmapgen/Cargo.toml
+++ b/language/move-prover/errmapgen/Cargo.toml
@@ -17,7 +17,7 @@ bcs = "0.1.2"
 # external dependencies
 log = "0.4.14"
 anyhow = "1.0.38"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 
 [dev-dependencies]
 codespan-reporting = "0.8.0"
diff --git a/language/move-vm/types/Cargo.toml b/language/move-vm/types/Cargo.toml
index 5ba87fd88004..089b14ad2e88 100644
--- a/language/move-vm/types/Cargo.toml
+++ b/language/move-vm/types/Cargo.toml
@@ -14,7 +14,7 @@ mirai-annotations = "1.10.1"
 once_cell = "1.7.2"
 proptest = { version = "1.0.0", optional = true }
 sha2 = "0.9.3"
-serde = { version = "1.0.124", features = ["derive", "rc"] }
+serde = { version = "1.0.147", features = ["derive", "rc"] }
 smallvec = "1.6.1"
 
 bcs = "0.1.2"
diff --git a/language/tools/move-coverage/Cargo.toml b/language/tools/move-coverage/Cargo.toml
index 962f8c90fd2e..8530740f3814 100644
--- a/language/tools/move-coverage/Cargo.toml
+++ b/language/tools/move-coverage/Cargo.toml
@@ -13,7 +13,7 @@ edition = "2018"
 once_cell = "1.7.2"
 petgraph = "0.5.1"
 structopt = "0.3.21"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 anyhow = "1.0.38"
 codespan = { version = "0.8.0", features = ["serialization"] }
 colored = "2.0.0"
diff --git a/language/tools/resource-viewer/Cargo.toml b/language/tools/resource-viewer/Cargo.toml
index 506b9cb1a5bf..98ed737eb845 100644
--- a/language/tools/resource-viewer/Cargo.toml
+++ b/language/tools/resource-viewer/Cargo.toml
@@ -20,7 +20,7 @@ move-vm-types = { path = "../../move-vm/types" }
 compiled-stdlib = { path = "../../diem-framework/compiled" }
 vm = { path = "../../vm" }
 serde_json = "1.0.64"
-serde = { version = "1.0.124", features = ["derive", "rc"] }
+serde = { version = "1.0.147", features = ["derive", "rc"] }
 
 anyhow = "1.0.38"
 once_cell = "1.7.2"
diff --git a/mempool/Cargo.toml b/mempool/Cargo.toml
index 045753e23b80..63e73b7c25e6 100644
--- a/mempool/Cargo.toml
+++ b/mempool/Cargo.toml
@@ -17,7 +17,7 @@ itertools = "0.10.0"
 once_cell = "1.7.2"
 proptest = { version = "1.0.0", optional = true }
 rayon = "1.4.1"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 tokio = { version = "1.3.0", features = ["full"] }
 tokio-stream = "0.1.4"
 
diff --git a/network/Cargo.toml b/network/Cargo.toml
index 71075b7072cf..3f55e05f61e0 100644
--- a/network/Cargo.toml
+++ b/network/Cargo.toml
@@ -21,7 +21,7 @@ proptest = { version = "1.0.0", default-features = true, optional = true }
 proptest-derive = { version = "0.3.0", optional = true }
 rand = { version = "0.8.3", features = ["small_rng"] }
 rand_core = { version = "0.6.2", optional = true }
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_bytes = "0.11.5"
 thiserror = "1.0.24"
 tokio = { version = "1.3.0", features = ["full"] }
diff --git a/network/builder/Cargo.toml b/network/builder/Cargo.toml
index b22615f70f28..c8258b43d524 100644
--- a/network/builder/Cargo.toml
+++ b/network/builder/Cargo.toml
@@ -14,7 +14,7 @@ edition = "2018"
 [dependencies]
 futures = "0.3.12"
 rand = "0.8.3"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 tokio = { version = "1.3.0", features = ["full"] }
 
 channel = { path = "../../common/channel" }
diff --git a/network/netcore/Cargo.toml b/network/netcore/Cargo.toml
index 20d993e5ee96..b76fedac2c1a 100644
--- a/network/netcore/Cargo.toml
+++ b/network/netcore/Cargo.toml
@@ -13,7 +13,7 @@ edition = "2018"
 bytes = "1.0.1"
 futures = "0.3.12"
 pin-project = "1.0.5"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 tokio = { version = "1.3.0", features = ["full"] }
 tokio-util = { version = "0.6.4", features = ["compat"] }
 url = { version = "2.2.1" }
diff --git a/sdk/client/Cargo.toml b/sdk/client/Cargo.toml
index 9095c339227e..10c95d0bdbb6 100644
--- a/sdk/client/Cargo.toml
+++ b/sdk/client/Cargo.toml
@@ -18,7 +18,7 @@ async = ["reqwest", "tokio"]
 anyhow = "1.0.38"
 bcs = "0.1.2"
 hex = "0.4.3"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 
 diem-crypto = { path = "../../crypto/crypto", version = "0.0.1" }
diff --git a/secure/key-manager/Cargo.toml b/secure/key-manager/Cargo.toml
index b0439ccb4745..2f14307fc8a8 100644
--- a/secure/key-manager/Cargo.toml
+++ b/secure/key-manager/Cargo.toml
@@ -13,7 +13,7 @@ publish = false
 anyhow = "1.0.38"
 bcs = "0.1.2"
 once_cell = "1.7.2"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 thiserror = "1.0.24"
 
 crash-handler = { path = "../../common/crash-handler" }
diff --git a/secure/net/Cargo.toml b/secure/net/Cargo.toml
index 193412cd7402..3b7f2f083842 100644
--- a/secure/net/Cargo.toml
+++ b/secure/net/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 once_cell = "1.7.2"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 thiserror = "1.0.24"
 
 diem-logger = { path = "../../common/logger" }
diff --git a/secure/storage/Cargo.toml b/secure/storage/Cargo.toml
index a5d9d6f92ef9..b66bbbdfcbff 100644
--- a/secure/storage/Cargo.toml
+++ b/secure/storage/Cargo.toml
@@ -14,7 +14,7 @@ base64 = "0.13.0"
 chrono = "0.4.19"
 enum_dispatch = "0.3.5"
 rand = "0.8.3"
-serde = { version = "1.0.124", features = ["rc"], default-features = false }
+serde = { version = "1.0.147", features = ["rc"], default-features = false }
 serde_json = "1.0.64"
 thiserror = "1.0.24"
 
diff --git a/secure/storage/github/Cargo.toml b/secure/storage/github/Cargo.toml
index d64ba5424776..89a81189ba62 100644
--- a/secure/storage/github/Cargo.toml
+++ b/secure/storage/github/Cargo.toml
@@ -10,7 +10,7 @@ publish = false
 edition = "2018"
 
 [dependencies]
-serde = { version = "1.0.124", features = ["derive"], default-features = false }
+serde = { version = "1.0.147", features = ["derive"], default-features = false }
 serde_json = "1.0.64"
 thiserror = "1.0.24"
 ureq = { version = "1.5.4", features = ["json", "native-tls"], default-features = false }
diff --git a/secure/storage/vault/Cargo.toml b/secure/storage/vault/Cargo.toml
index 6113ed1a475d..996f11371ed3 100644
--- a/secure/storage/vault/Cargo.toml
+++ b/secure/storage/vault/Cargo.toml
@@ -15,7 +15,7 @@ chrono = "0.4.19"
 once_cell = "1.7.2"
 proptest = { version = "1.0.0", optional = true }
 native-tls = "0.2.7"
-serde = { version = "1.0.124", features = ["derive"], default-features = false }
+serde = { version = "1.0.147", features = ["derive"], default-features = false }
 serde_json = "1.0.64"
 thiserror = "1.0.24"
 ureq = { version = "1.5.4", features = ["json", "native-tls"], default-features = false }
diff --git a/state-sync/Cargo.toml b/state-sync/Cargo.toml
index 9eea8549affb..32353b3c8b34 100644
--- a/state-sync/Cargo.toml
+++ b/state-sync/Cargo.toml
@@ -17,7 +17,7 @@ itertools = { version = "0.10.0", default-features = false }
 once_cell = "1.7.2"
 proptest = { version = "1.0.0", optional = true }
 rand = "0.8.3"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 thiserror = "1.0.24"
 tokio = { version = "1.3.0", features = ["full"] }
 tokio-stream = "0.1.4"
diff --git a/storage/backup/backup-cli/Cargo.toml b/storage/backup/backup-cli/Cargo.toml
index f2a416d6c055..bf0f462ca967 100644
--- a/storage/backup/backup-cli/Cargo.toml
+++ b/storage/backup/backup-cli/Cargo.toml
@@ -22,7 +22,7 @@ pin-project = "1.0.5"
 rand = "0.8.3"
 regex = "1.4.3"
 reqwest = { version = "0.11.2", features = ["stream"], default-features = false }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde_json = "1.0.64"
 structopt = "0.3.21"
 toml = "0.5.8"
diff --git a/storage/backup/backup-service/Cargo.toml b/storage/backup/backup-service/Cargo.toml
index 3f60e21760b2..0db436dc670d 100644
--- a/storage/backup/backup-service/Cargo.toml
+++ b/storage/backup/backup-service/Cargo.toml
@@ -14,7 +14,7 @@ bytes = "1.0.1"
 futures = "0.3.12"
 hyper = "0.14.4"
 once_cell = "1.7.2"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 tokio = { version = "1.3.0", features = ["full"] }
 warp = "0.3.0"
 
diff --git a/storage/diemdb/Cargo.toml b/storage/diemdb/Cargo.toml
index e1e5a5bfc325..84207fa1191c 100644
--- a/storage/diemdb/Cargo.toml
+++ b/storage/diemdb/Cargo.toml
@@ -19,7 +19,7 @@ num-derive = "0.3.3"
 num-traits = "0.2.14"
 proptest = { version = "1.0.0", optional = true }
 proptest-derive = { version = "0.3.0", optional = true }
-serde = "1.0.124"
+serde = "1.0.147"
 thiserror = "1.0.24"
 
 accumulator = { path = "../accumulator" }
diff --git a/storage/diemsum/Cargo.toml b/storage/diemsum/Cargo.toml
index ab849fa3dd8f..40541c853606 100644
--- a/storage/diemsum/Cargo.toml
+++ b/storage/diemsum/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 structopt = "0.3.21"
-serde = "1.0.124"
+serde = "1.0.147"
 serde_json = "1.0.64"
 
 diemdb = { path = "../diemdb", features = ["diemsum"] }
diff --git a/storage/jellyfish-merkle/Cargo.toml b/storage/jellyfish-merkle/Cargo.toml
index b325cfea4a8b..9622f76a8d21 100644
--- a/storage/jellyfish-merkle/Cargo.toml
+++ b/storage/jellyfish-merkle/Cargo.toml
@@ -18,7 +18,7 @@ num-traits = "0.2.14"
 proptest = { version = "1.0.0", optional = true }
 proptest-derive = { version = "0.3.0", optional = true }
 rand = { version = "0.8.3", optional = true }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 thiserror = "1.0.24"
 
 bcs = "0.1.2"
diff --git a/storage/storage-client/Cargo.toml b/storage/storage-client/Cargo.toml
index 758c2bb73a5f..43f568d2a02c 100644
--- a/storage/storage-client/Cargo.toml
+++ b/storage/storage-client/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 anyhow = "1.0.38"
-serde = "1.0.124"
+serde = "1.0.147"
 
 bcs = "0.1.2"
 diem-crypto = { path = "../../crypto/crypto" }
diff --git a/storage/storage-interface/Cargo.toml b/storage/storage-interface/Cargo.toml
index 0dc34a58ff57..01f19b834888 100644
--- a/storage/storage-interface/Cargo.toml
+++ b/storage/storage-interface/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 anyhow = "1.0.38"
 itertools = "0.10.0"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 thiserror = "1.0.24"
 parking_lot = "0.11.1"
 
diff --git a/testsuite/cli/Cargo.toml b/testsuite/cli/Cargo.toml
index 99d8aa3554ea..f9f4a233274e 100644
--- a/testsuite/cli/Cargo.toml
+++ b/testsuite/cli/Cargo.toml
@@ -19,7 +19,7 @@ rust_decimal = "1.10.3"
 num-traits = "0.2.14"
 once_cell = "1.7.2"
 reqwest = { version = "0.11.2", features = ["blocking", "json"] }
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 structopt = "0.3.21"
 tokio = { version = "1.3.0", features = ["full"] }
 walkdir = "2.3.1"
diff --git a/testsuite/cli/diem-wallet/Cargo.toml b/testsuite/cli/diem-wallet/Cargo.toml
index 3172607d1a6c..9ea6e3192f38 100644
--- a/testsuite/cli/diem-wallet/Cargo.toml
+++ b/testsuite/cli/diem-wallet/Cargo.toml
@@ -16,7 +16,7 @@ hex = "0.4.3"
 hmac = "0.10.1"
 byteorder = "1.4.2"
 pbkdf2 = "0.7.3"
-serde = "1.0.124"
+serde = "1.0.147"
 sha2 = "0.9.3"
 thiserror = "1.0.24"
 ed25519-dalek = { version = "0.1.0", package = "ed25519-dalek-fiat", default-features = false, features = ["std", "fiat_u64_backend"] }
diff --git a/testsuite/cluster-test/Cargo.toml b/testsuite/cluster-test/Cargo.toml
index 2c5034dd3362..df1bc5e6dfb1 100644
--- a/testsuite/cluster-test/Cargo.toml
+++ b/testsuite/cluster-test/Cargo.toml
@@ -21,7 +21,7 @@ reqwest = { version = "0.11.2", features = ["blocking", "json"] }
 serde_json = "1.0.64"
 serde_yaml = "0.8.17"
 termion = "1.5.6"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 structopt = "0.3.21"
 rusoto_core = "0.46.0"
 rusoto_autoscaling = "0.46.0"
diff --git a/testsuite/generate-format/Cargo.toml b/testsuite/generate-format/Cargo.toml
index 4683036d272c..7f3c34f20995 100644
--- a/testsuite/generate-format/Cargo.toml
+++ b/testsuite/generate-format/Cargo.toml
@@ -11,7 +11,7 @@ edition = "2018"
 
 [dependencies]
 rand = "0.8.3"
-serde = { version = "1.0.124", features = ["derive"] }
+serde = { version = "1.0.147", features = ["derive"] }
 serde-reflection = "0.3.2"
 serde_yaml = "0.8.17"
 structopt = "0.3.21"
diff --git a/types/Cargo.toml b/types/Cargo.toml
index 789e8781c7a1..44b3764b21b3 100644
--- a/types/Cargo.toml
+++ b/types/Cargo.toml
@@ -21,7 +21,7 @@ mirai-annotations = "1.10.1"
 proptest = { version = "1.0.0", optional = true }
 proptest-derive = { version = "0.3.0", default-features = false, optional = true }
 rand = "0.8.3"
-serde = { version = "1.0.124", default-features = false }
+serde = { version = "1.0.147", default-features = false }
 serde_json = "1.0.64"
 serde_bytes = "0.11.5"
 thiserror = "1.0.24"