diff --git a/Cargo.lock b/Cargo.lock
index d2752508a..128e0505d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -178,12 +178,12 @@ dependencies = [
  "lazycell",
  "peeking_take_while",
  "prettyplease",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "regex",
  "rustc-hash",
  "shlex",
- "syn 2.0.18",
+ "syn 2.0.41",
 ]
 
 [[package]]
@@ -212,7 +212,7 @@ dependencies = [
 
 [[package]]
 name = "bitcoin"
-version = "6.13.0"
+version = "6.14.0"
 dependencies = [
  "bitcoin 0.29.0",
  "bitcoin 0.29.2",
@@ -231,6 +231,7 @@ dependencies = [
  "serde",
  "serde_json",
  "simple_logger",
+ "thiserror",
  "tiny-keccak 2.0.2",
 ]
 
@@ -330,7 +331,7 @@ version = "1.0.3"
 dependencies = [
  "bitcoin 0.29.0",
  "bitcoin 0.29.2",
- "bitcoin 6.13.0",
+ "bitcoin 6.14.0",
  "chain_ids",
  "common",
  "database_utils",
@@ -358,7 +359,7 @@ version = "1.0.2"
 dependencies = [
  "bitcoin 0.29.0",
  "bitcoin 0.29.2",
- "bitcoin 6.13.0",
+ "bitcoin 6.14.0",
  "chain_ids",
  "common",
  "database_utils",
@@ -387,7 +388,7 @@ version = "1.1.0"
 dependencies = [
  "bitcoin 0.29.0",
  "bitcoin 0.29.2",
- "bitcoin 6.13.0",
+ "bitcoin 6.14.0",
  "chain_ids",
  "common",
  "database_utils",
@@ -667,8 +668,8 @@ checksum = "859d65a907b6852c9361e3185c862aae7fafd2887876799fa55f5f99dc40d610"
 dependencies = [
  "fnv",
  "ident_case",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "strsim",
  "syn 1.0.109",
 ]
@@ -680,7 +681,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "9c972679f83bdf9c42bd905396b6c3588a843a17f0f16dfcfa3e2c5d57441835"
 dependencies = [
  "darling_core",
- "quote 1.0.28",
+ "quote 1.0.33",
  "syn 1.0.109",
 ]
 
@@ -726,8 +727,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "4fb810d30a7c1953f91334de7244731fc3f3c10d7fe163338a35b9f640960321"
 dependencies = [
  "convert_case",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "rustc_version",
  "syn 1.0.109",
 ]
@@ -964,8 +965,8 @@ name = "eosio-core-derive"
 version = "0.2.1"
 source = "git+https://github.com/bifrost-finance/rust-eos?rev=8e57843#8e57843f3ae5fd4b289f4c7841761ed3b6ce5c5e"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
 ]
 
@@ -1241,8 +1242,8 @@ version = "0.1.8"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "aa4da3c766cd7a0db8242e326e9e4e081edd567072893ed320008189715366a4"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
  "synstructure",
 ]
@@ -1259,7 +1260,7 @@ version = "6.10.3"
 dependencies = [
  "bitcoin 0.29.0",
  "bitcoin 0.29.2",
- "bitcoin 6.13.0",
+ "bitcoin 6.14.0",
  "common",
  "derive_more",
  "hex",
@@ -1429,9 +1430,9 @@ version = "0.3.28"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "89ca545a94061b6365f2c7355b4b32bd20df3ff95f02da9329b34ccc3bd6ee72"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
 ]
 
 [[package]]
@@ -1820,8 +1821,8 @@ version = "0.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "11d7a9f6330b71fea57921c9b61c47ee6e84f72d394754eff6163ae67e7395eb"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
 ]
 
@@ -2290,8 +2291,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "1557010476e0595c9b568d16dcfb81b93cdeb157612726f5170d31aa707bed27"
 dependencies = [
  "proc-macro-crate",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
 ]
 
@@ -2501,9 +2502,9 @@ version = "1.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "39407670928234ebc5e6e580247dd567ad73a3578460c5990f9503df207e8f07"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
 ]
 
 [[package]]
@@ -2587,8 +2588,8 @@ version = "0.2.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3b69d39aab54d069e7f2fe8cb970493e7834601ca2d8c65fd7bbd183578080d1"
 dependencies = [
- "proc-macro2 1.0.60",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "syn 2.0.41",
 ]
 
 [[package]]
@@ -2634,8 +2635,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "da25490ff9892aab3fcf7c36f08cfb902dd3e71ca0f9f9517bea02a73a5ce38c"
 dependencies = [
  "proc-macro-error-attr",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
  "version_check",
 ]
@@ -2646,8 +2647,8 @@ version = "1.0.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a1be40180e52ecc98ad80b184934baf3d0d29f979574e439af5a55274b35f869"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "version_check",
 ]
 
@@ -2662,9 +2663,9 @@ dependencies = [
 
 [[package]]
 name = "proc-macro2"
-version = "1.0.60"
+version = "1.0.70"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dec2b086b7a862cf4de201096214fa870344cf922b2b30c167badb3af3195406"
+checksum = "39278fbbf5fb4f646ce651690877f89d1c5811a3d4acb27700c1cb3cdb78fd3b"
 dependencies = [
  "unicode-ident",
 ]
@@ -2686,11 +2687,11 @@ dependencies = [
 
 [[package]]
 name = "quote"
-version = "1.0.28"
+version = "1.0.33"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1b9ab9c7eadfd8df19006f1cf1a4aed13540ed5cbc047010ece5826e10825488"
+checksum = "5267fca4496028628a95160fc423a33e8b2e6af8a5302579e322e4b520293cae"
 dependencies = [
- "proc-macro2 1.0.60",
+ "proc-macro2 1.0.70",
 ]
 
 [[package]]
@@ -3233,9 +3234,9 @@ version = "1.0.164"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d9735b638ccc51c28bf6914d90a2e9725b377144fc612c49a611fddd1b631d68"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
 ]
 
 [[package]]
@@ -3278,8 +3279,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "e182d6ec6f05393cc0e5ed1bf81ad6db3a8feedf8ee515ecdd369809bcce8082"
 dependencies = [
  "darling",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
 ]
 
@@ -3301,8 +3302,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2881bccd7d60fb32dfa3d7b3136385312f8ad75e2674aab2852867a09790cae8"
 dependencies = [
  "proc-macro-error",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "rustversion",
  "syn 1.0.109",
 ]
@@ -3468,8 +3469,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "339f799d8b549e3744c7ac7feb216383e4005d94bdb22561b3ab8f3b808ae9fb"
 dependencies = [
  "heck",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
 ]
 
@@ -3502,19 +3503,19 @@ version = "1.0.109"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "72b64191b275b66ffe2469e8af2c1cfe3bafa67b529ead792a6d0160888b4237"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "unicode-ident",
 ]
 
 [[package]]
 name = "syn"
-version = "2.0.18"
+version = "2.0.41"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "32d41677bcbe24c20c52e7c70b0d8db04134c5d1066bf98662e2871ad200ea3e"
+checksum = "44c8b28c477cc3bf0e7966561e3460130e1255f7a1cf71931075f1c5e7a7e269"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "unicode-ident",
 ]
 
@@ -3524,8 +3525,8 @@ version = "0.12.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "f36bdaa60a83aca3921b5259d5400cbf5e90fc51931376a9bd4a0eb79aa7210f"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
  "syn 1.0.109",
  "unicode-xid 0.2.4",
 ]
@@ -3547,22 +3548,22 @@ dependencies = [
 
 [[package]]
 name = "thiserror"
-version = "1.0.40"
+version = "1.0.51"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "978c9a314bd8dc99be594bc3c175faaa9794be04a5a5e153caba6915336cebac"
+checksum = "f11c217e1416d6f036b870f14e0413d480dbf28edbee1f877abaf0206af43bb7"
 dependencies = [
  "thiserror-impl",
 ]
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.40"
+version = "1.0.51"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f9456a42c5b0d803c8cd86e73dd7cc9edd429499f37a3550d286d5e86720569f"
+checksum = "01742297787513b79cf8e29d1056ede1313e2420b7b3b15d0a768b4921f549df"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
 ]
 
 [[package]]
@@ -3941,9 +3942,9 @@ dependencies = [
  "bumpalo",
  "log",
  "once_cell",
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
  "wasm-bindgen-shared",
 ]
 
@@ -3965,7 +3966,7 @@ version = "0.2.87"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "dee495e55982a3bd48105a7b947fd2a9b4a8ae3010041b9e0faab3f9cd028f1d"
 dependencies = [
- "quote 1.0.28",
+ "quote 1.0.33",
  "wasm-bindgen-macro-support",
 ]
 
@@ -3975,9 +3976,9 @@ version = "0.2.87"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "54681b18a46765f095758388f2d0cf16eb8d4169b639ab575a8f5693af210c7b"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
  "wasm-bindgen-backend",
  "wasm-bindgen-shared",
 ]
@@ -4191,9 +4192,9 @@ version = "1.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ce36e65b0d2999d2aafac989fb249189a141aee1f53c612c1f37d72631959f69"
 dependencies = [
- "proc-macro2 1.0.60",
- "quote 1.0.28",
- "syn 2.0.18",
+ "proc-macro2 1.0.70",
+ "quote 1.0.33",
+ "syn 2.0.41",
 ]
 
 [[package]]
diff --git a/common/bitcoin/Cargo.toml b/common/bitcoin/Cargo.toml
index 451360af0..f91614e93 100644
--- a/common/bitcoin/Cargo.toml
+++ b/common/bitcoin/Cargo.toml
@@ -3,7 +3,7 @@ license = "MIT"
 publish = false
 name = "bitcoin"
 edition = "2021"
-version = "6.13.0"
+version = "6.14.0"
 readme = "README.md"
 rust-version = "1.56"
 keywords = ["provable", "defi", "crypto"]
@@ -15,6 +15,7 @@ ltc = ["litecoin"]
 default = ["bitcoin"]
 
 [dependencies]
+thiserror = "1.0.51"
 hex = { workspace = true }
 log = { workspace = true }
 paste = { workspace = true }
diff --git a/common/bitcoin/src/btc_constants.rs b/common/bitcoin/src/btc_constants.rs
index 4bc814ab7..518047b0f 100644
--- a/common/bitcoin/src/btc_constants.rs
+++ b/common/bitcoin/src/btc_constants.rs
@@ -24,6 +24,7 @@ pub const BTC_TX_VERSION: i32 = 1;
 pub const MAX_NUM_OUTPUTS: usize = 2;
 pub const BTC_NUM_DECIMALS: usize = 8;
 pub const BTC_PUB_KEY_SLICE_LENGTH: usize = 33;
+pub(crate) const BTC_FEE_HARDCAP: u64 = 500_000; // NOTE: 0.005 btc
 pub const BTC_TX_LOCK_TIME: PackedLockTime = PackedLockTime::ZERO;
 pub const DEFAULT_BTC_SEQUENCE: Sequence = Sequence(4_294_967_295); // NOTE: 0xFFFFFFFF
 pub const BTC_CORE_IS_INITIALIZED_JSON: &str = "{btc_enclave_initialized:true}";
diff --git a/common/bitcoin/src/btc_transaction.rs b/common/bitcoin/src/btc_transaction.rs
index 238dd8333..dc9533bc6 100644
--- a/common/bitcoin/src/btc_transaction.rs
+++ b/common/bitcoin/src/btc_transaction.rs
@@ -5,7 +5,7 @@ use crate::{
         blockdata::transaction::{Transaction as BtcTransaction, TxIn as BtcUtxo},
         Sighash,
     },
-    btc_constants::{BTC_TX_LOCK_TIME, BTC_TX_VERSION, DUST_AMOUNT},
+    btc_constants::{BTC_FEE_HARDCAP, BTC_TX_LOCK_TIME, BTC_TX_VERSION, DUST_AMOUNT},
     btc_recipients_and_amounts::BtcRecipientsAndAmounts,
     btc_utils::{
         create_new_pay_to_pub_key_hash_output,
@@ -15,6 +15,7 @@ use crate::{
     },
     deposit_address_info::DepositAddressInfo,
     utxo_manager::BtcUtxosAndValues,
+    BitcoinError,
     BtcPrivateKey,
 };
 
@@ -44,6 +45,11 @@ pub fn create_signed_raw_btc_tx_for_n_input_n_outputs(
         lock_time: BTC_TX_LOCK_TIME,
     };
     let fee = zero_change_tx.size() as u64 * sats_per_byte;
+
+    if fee > BTC_FEE_HARDCAP {
+        return Err(BitcoinError::FeeHardCapExceeded(BTC_FEE_HARDCAP).to_string().into());
+    };
+
     let utxo_total = utxos_and_values.sum();
     info!("✔ UTXO(s) total:  {}", utxo_total);
     info!("✔ Outgoing total: {}", total_to_spend);
@@ -141,6 +147,8 @@ pub fn create_signed_raw_btc_tx_for_n_input_n_outputs(
 
 #[cfg(all(test, not(feature = "ltc")))]
 mod tests {
+    use common::AppError;
+
     use super::*;
     use crate::{
         btc_recipients_and_amounts::BtcRecipientAndAmount,
@@ -235,4 +243,31 @@ mod tests {
         assert_eq!(result_hex, expected_result);
         assert_eq!(tx_id, expected_tx_id);
     }
+
+    #[test]
+    fn should_error_if_fee_hard_cap_is_exceeded() {
+        let utxos_and_values = BtcUtxosAndValues::new(vec![
+            get_sample_p2pkh_utxo_and_value_n(3).unwrap(),
+            get_sample_p2pkh_utxo_and_value_n(4).unwrap(),
+        ]);
+        let sats_per_byte = 3000;
+        let btc_private_key = get_sample_btc_private_key();
+        let remainder_btc_address = SAMPLE_TARGET_BTC_ADDRESS;
+        let recipient_addresses_and_amounts = BtcRecipientsAndAmounts::new(vec![
+            BtcRecipientAndAmount::new("mudzxCq9aCQ4Una9MmayvJVCF1Tj9fypiM", 666).unwrap(),
+            BtcRecipientAndAmount::new("mu1FFNnoiMytR5tKGXp6M1XhUZFQd3Mc8n", 1337).unwrap(),
+        ]);
+        let expected_error = format!("btc fee hard cap of {BTC_FEE_HARDCAP} exceeded");
+        match create_signed_raw_btc_tx_for_n_input_n_outputs(
+            sats_per_byte,
+            recipient_addresses_and_amounts,
+            remainder_btc_address,
+            &btc_private_key,
+            utxos_and_values,
+        ) {
+            Ok(_) => panic!("should not have succeeded!"),
+            Err(AppError::Custom(e)) => assert_eq!(e, expected_error),
+            Err(e) => panic!("wrong error received: {e}"),
+        }
+    }
 }
diff --git a/common/bitcoin/src/error.rs b/common/bitcoin/src/error.rs
new file mode 100644
index 000000000..22f45754e
--- /dev/null
+++ b/common/bitcoin/src/error.rs
@@ -0,0 +1,7 @@
+use thiserror::Error;
+
+#[derive(Debug, Error)]
+pub enum BitcoinError {
+    #[error("btc fee hard cap of {0} exceeded")]
+    FeeHardCapExceeded(u64),
+}
diff --git a/common/bitcoin/src/lib.rs b/common/bitcoin/src/lib.rs
index 073eb042e..aab55a738 100644
--- a/common/bitcoin/src/lib.rs
+++ b/common/bitcoin/src/lib.rs
@@ -21,6 +21,7 @@ mod btc_utils;
 mod check_btc_parent_exists;
 mod core_initialization;
 mod deposit_address_info;
+mod error;
 mod extract_utxos_from_p2pkh_txs;
 mod extract_utxos_from_p2sh_txs;
 mod extract_utxos_from_txs;
@@ -94,6 +95,7 @@ pub use self::{
         DepositAddressInfoVersion,
         DepositInfoHashMap,
     },
+    error::BitcoinError,
     extract_utxos_from_p2pkh_txs::{
         extract_utxos_from_p2pkh_tx,
         extract_utxos_from_p2pkh_txs,