diff --git a/Cargo.lock b/Cargo.lock
index 945c9d7fd5ec0007d1c402776958bc33ec827417..25b044408831053c6b1191d5c4a5027ca36df389 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1334,9 +1334,9 @@ dependencies = [
 
 [[package]]
 name = "hex"
-version = "0.4.2"
+version = "0.4.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "644f9158b2f133fd50f5fb3242878846d9eb792e445c893805ff0e3824006e35"
+checksum = "7f24254aa9a54b5c858eaee2f5bccdb46aaf0e486a595ed5fd8f86ba55232a70"
 
 [[package]]
 name = "hmac"
diff --git a/Cargo.toml b/Cargo.toml
index 5b83e1d7e36f2a4178642fbbbebf18f78b7c170e..7f0c571c6cf45637899513779fc6825c464f42c1 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -48,7 +48,7 @@ async-std = { version = "1.9.0", optional = true }
 sp-core = { version = "2.0.1", optional = true }
 subxt = { version = "0.14.0", package = "substrate-subxt", optional = true }
 futures = { version = "0.3.13", optional = true }
-hex = { version = "0.4.2", optional = true }
+hex = { version = "0.4.3", optional = true }
 
 # Should be removed once bitvecto-rs/bitvec#105 is resolved
 funty = "=1.1.0"