diff --git a/client/beefy/rpc/Cargo.toml b/client/beefy/rpc/Cargo.toml
index 09bc783e067e0..7a3565d38ac4c 100644
--- a/client/beefy/rpc/Cargo.toml
+++ b/client/beefy/rpc/Cargo.toml
@@ -8,7 +8,7 @@ license = "GPL-3.0-or-later WITH Classpath-exception-2.0"
 [dependencies]
 futures = "0.3.16"
 log = "0.4"
-serde = { version = "1.0.127", features = ["derive"] }
+serde = { version = "1.0.128", features = ["derive"] }
 serde_json = "1.0.64"
 
 jsonrpc-core = "18.0.0"
diff --git a/frame/beefy-mmr/Cargo.toml b/frame/beefy-mmr/Cargo.toml
index 8a10d8a9b7e13..f9f5da9727105 100644
--- a/frame/beefy-mmr/Cargo.toml
+++ b/frame/beefy-mmr/Cargo.toml
@@ -12,7 +12,7 @@ codec = { version = "2.0.0", package = "parity-scale-codec", default-features =
 libsecp256k1 = { version = "0.6.0", default-features = false }
 log = { version = "0.4.13", default-features = false }
 scale-info = { version = "0.10.0", default-features = false, features = ["derive"] }
-serde = { version = "1.0.127", optional = true }
+serde = { version = "1.0.128", optional = true }
 
 frame-support = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }
 frame-system = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }
diff --git a/frame/beefy/Cargo.toml b/frame/beefy/Cargo.toml
index c2de2876ba9b8..58f6e86b79c56 100644
--- a/frame/beefy/Cargo.toml
+++ b/frame/beefy/Cargo.toml
@@ -8,7 +8,7 @@ license = "GPL-3.0-or-later WITH Classpath-exception-2.0"
 [dependencies]
 codec = { version = "2.0.0", package = "parity-scale-codec", default-features = false, features = ["derive"] }
 scale-info = { version = "0.10.0", default-features = false, features = ["derive"] }
-serde = { version = "1.0.127", optional = true }
+serde = { version = "1.0.128", optional = true }
 
 frame-support = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }
 frame-system = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }