diff --git a/polkadot/Cargo.lock b/polkadot/Cargo.lock
index 1ceebc13d9..efccb7b474 100644
--- a/polkadot/Cargo.lock
+++ b/polkadot/Cargo.lock
@@ -3823,12 +3823,14 @@ dependencies = [
  "arrayref",
  "base64 0.13.0",
  "digest 0.9.0",
+ "hmac-drbg",
  "libsecp256k1-core 0.3.0",
  "libsecp256k1-gen-ecmult 0.3.0",
  "libsecp256k1-gen-genmult 0.3.0",
  "rand 0.8.4",
  "serde",
  "sha2 0.9.2",
+ "typenum",
 ]
 
 [[package]]
@@ -6742,7 +6744,7 @@ dependencies = [
  "frame-system",
  "hex-literal",
  "impl-trait-for-tuples",
- "libsecp256k1 0.6.0",
+ "libsecp256k1 0.7.0",
  "log",
  "pallet-authorship",
  "pallet-babe",
diff --git a/polkadot/runtime/common/Cargo.toml b/polkadot/runtime/common/Cargo.toml
index 599b9a7f41..8aa7d4af90 100644
--- a/polkadot/runtime/common/Cargo.toml
+++ b/polkadot/runtime/common/Cargo.toml
@@ -45,7 +45,7 @@ frame-benchmarking = { git = "https://github.com/paritytech/substrate", branch =
 pallet-babe = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false, optional = true }
 
 primitives = { package = "polkadot-primitives", path = "../../primitives", default-features = false }
-libsecp256k1 = { version = "0.6.0", default-features = false }
+libsecp256k1 = { version = "0.7.0", default-features = false }
 runtime-parachains = { package = "polkadot-runtime-parachains", path = "../parachains", default-features = false }
 
 slot-range-helper = { path = "slot_range_helper", default-features = false }
@@ -58,7 +58,7 @@ pallet-babe = { git = "https://github.com/paritytech/substrate", branch = "maste
 pallet-treasury = { git = "https://github.com/paritytech/substrate", branch = "master" }
 sp-keystore = { git = "https://github.com/paritytech/substrate", branch = "master" }
 serde_json = "1.0.67"
-libsecp256k1 = "0.6.0"
+libsecp256k1 = "0.7.0"
 
 [features]
 default = ["std"]