diff --git a/Cargo.lock b/Cargo.lock
index 71a13521a03..7dc1d696686 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -713,7 +713,7 @@ version = "0.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2c8d66485a3a2ea485c1913c4572ce0256067a5377ac8c75c4960e1cda98605f"
 dependencies = [
- "bitcoin-internals",
+ "bitcoin-internals 0.3.0",
  "bitcoin_hashes 0.14.0",
 ]
 
@@ -903,8 +903,8 @@ dependencies = [
  "base58ck",
  "base64 0.21.7",
  "bech32 0.11.0",
- "bitcoin-internals",
- "bitcoin-io",
+ "bitcoin-internals 0.3.0",
+ "bitcoin-io 0.1.3",
  "bitcoin-units",
  "bitcoin_hashes 0.14.0",
  "hex-conservative 0.2.1",
@@ -922,11 +922,26 @@ dependencies = [
  "serde",
 ]
 
+[[package]]
+name = "bitcoin-internals"
+version = "0.4.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "2b854212e29b96c8f0fe04cab11d57586c8f3257de0d146c76cb3b42b3eb9118"
+
 [[package]]
 name = "bitcoin-io"
-version = "0.1.2"
+version = "0.1.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "340e09e8399c7bd8912f495af6aa58bea0c9214773417ffaa8f6460f93aaee56"
+checksum = "0b47c4ab7a93edb0c7198c5535ed9b52b63095f4e9b45279c6736cec4b856baf"
+
+[[package]]
+name = "bitcoin-io"
+version = "0.2.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "26792cd2bf245069a1c5acb06aa7ad7abe1de69b507c90b490bca81e0665d0ee"
+dependencies = [
+ "bitcoin-internals 0.4.0",
+]
 
 [[package]]
 name = "bitcoin-private"
@@ -940,7 +955,7 @@ version = "0.1.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "5285c8bcaa25876d07f37e3d30c303f2609179716e11d688f51e8f1fe70063e2"
 dependencies = [
- "bitcoin-internals",
+ "bitcoin-internals 0.3.0",
  "serde",
 ]
 
@@ -959,7 +974,7 @@ version = "0.14.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "bb18c03d0db0247e147a21a6faafd5a7eb851c743db062de72018b6b7e8e4d16"
 dependencies = [
- "bitcoin-io",
+ "bitcoin-io 0.1.3",
  "hex-conservative 0.2.1",
  "serde",
 ]
@@ -2666,7 +2681,7 @@ dependencies = [
  "bech32 0.11.0",
  "bincode",
  "bitcoin",
- "bitcoin-io",
+ "bitcoin-io 0.2.0",
  "bitcoin-units",
  "bitvec",
  "bls12_381",
diff --git a/fedimint-core/Cargo.toml b/fedimint-core/Cargo.toml
index e390efefeac..168b5c821fd 100644
--- a/fedimint-core/Cargo.toml
+++ b/fedimint-core/Cargo.toml
@@ -29,7 +29,7 @@ base64-url = { workspace = true }
 bech32 = "0.11.0"
 bincode = { workspace = true }
 bitcoin = { workspace = true }
-bitcoin-io = "0.1.2"
+bitcoin-io = "0.2.0"
 bitcoin-units = "0.1.2"
 bitvec = "1.0.1"
 bls12_381 = { workspace = true }