diff --git a/Cargo.lock b/Cargo.lock
index 32f6852fbb8..2750b98098d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -66,7 +66,7 @@ dependencies = [
  "protoc-rust",
  "sgx-isa",
  "sgxs",
- "thiserror",
+ "thiserror 1.0.69",
  "unix_socket2",
  "winapi",
 ]
@@ -161,15 +161,15 @@ dependencies = [
 
 [[package]]
 name = "anyhow"
-version = "1.0.89"
+version = "1.0.93"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "86fdf8605db99b54d3cd748a44c6d04df638eb5dafb219b135d0149bd0db01f6"
+checksum = "4c95c10ba0b00a02636238b814946408b1322d5ac4760326e6fb8ec956d85775"
 
 [[package]]
 name = "arbitrary"
-version = "1.3.2"
+version = "1.4.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7d5a26814d8dcb93b0e5a0ff3c6d80a8843bafb21b39e8e18a6f05471870e110"
+checksum = "dde20b3d026af13f561bdd0f15edf01fc734f0dafcedbaf42bba506a9517f223"
 dependencies = [
  "derive_arbitrary",
 ]
@@ -192,7 +192,7 @@ dependencies = [
  "nom",
  "num-traits",
  "rusticata-macros",
- "thiserror",
+ "thiserror 1.0.69",
  "time",
 ]
 
@@ -208,7 +208,7 @@ dependencies = [
  "nom",
  "num-traits",
  "rusticata-macros",
- "thiserror",
+ "thiserror 1.0.69",
  "time",
 ]
 
@@ -232,7 +232,7 @@ checksum = "7378575ff571966e99a744addeff0bff98b8ada0dedf1956d59e634db95eaac1"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
  "synstructure 0.13.1",
 ]
 
@@ -255,7 +255,7 @@ checksum = "7b18050c2cd6fe86c3a76584ef5e0baf286d038cda203eb6223df2cc413565f7"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -266,7 +266,7 @@ checksum = "721cae7de5c34fbb2acd27e21e6d2cf7b886dce0c27388d46c4e6c47ea4318dd"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -354,7 +354,7 @@ dependencies = [
  "regex",
  "rustc-hash",
  "shlex",
- "syn 2.0.72",
+ "syn 2.0.87",
  "which",
 ]
 
@@ -535,18 +535,18 @@ dependencies = [
 
 [[package]]
 name = "clap"
-version = "4.5.20"
+version = "4.5.21"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b97f376d85a664d5837dbae44bf546e6477a679ff6610010f17276f686d867e8"
+checksum = "fb3b4b9e5a7c7514dfa52869339ee98b3156b0bfb4e8a77c4ff4babb64b1604f"
 dependencies = [
  "clap_builder",
 ]
 
 [[package]]
 name = "clap_builder"
-version = "4.5.20"
+version = "4.5.21"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "19bc80abd44e4bed93ca373a0704ccbd1b710dc5749406201bb018272808dc54"
+checksum = "b17a95aa67cc7b5ebd32aa5370189aa0d79069ef1c64ce893bd30fb24bff20ec"
 dependencies = [
  "anstream",
  "anstyle",
@@ -725,7 +725,7 @@ checksum = "f46882e17999c6cc590af592290432be3bce0428cb0d5f8b6715e4dc7b383eb3"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -789,7 +789,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "fab9d9a7e9ff7a4762c5c378deb4158d6aaeaeab86952ecf64221159dcd20809"
 dependencies = [
  "subtle",
- "thiserror",
+ "thiserror 1.0.69",
  "zeroize",
 ]
 
@@ -843,13 +843,13 @@ dependencies = [
 
 [[package]]
 name = "derive_arbitrary"
-version = "1.3.2"
+version = "1.4.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "67e77553c4162a157adbf834ebae5b415acbecbeafc7a74b0e886657506a7611"
+checksum = "30542c1ad912e0e3d22a1935c290e12e8a29d704a420177a31faad4a601a0800"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -860,7 +860,7 @@ checksum = "5f33878137e4dafd7fa914ad4e259e18a4e8e532b9617a2d0150262bf53abfce"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -892,7 +892,7 @@ checksum = "97369cbbc041bc366949bc74d34658d6cda5621039731c6310521892a3a20ae0"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -994,7 +994,7 @@ dependencies = [
  "openssl",
  "sgx-isa",
  "sgxs",
- "thiserror",
+ "thiserror 1.0.69",
  "tokio",
 ]
 
@@ -1149,7 +1149,7 @@ checksum = "162ee34ebcb7c64a8abebc059ce0fee27c2262618d7b60ed8faf72fef13c3650"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -1498,9 +1498,9 @@ checksum = "830d08ce1d1d941e6b30645f1a0eb5643013d835ce3779a5fc208261dbe10f55"
 
 [[package]]
 name = "libc"
-version = "0.2.159"
+version = "0.2.162"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "561d97a539a36e26a9a5fad1ea11a3039a67714694aaa379433e580854bc3dc5"
+checksum = "18d287de67fe55fd7e1581fe933d965a5a9477b38e949cfa9f8574ef01506398"
 
 [[package]]
 name = "libloading"
@@ -1758,7 +1758,7 @@ checksum = "ed3955f1a9c7c0c15e092f9c887db08b1fc683305fdf6eb6684f22555355e202"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -1820,7 +1820,7 @@ dependencies = [
  "oasis-cbor-derive",
  "oasis-cbor-value",
  "serde",
- "thiserror",
+ "thiserror 1.0.69",
 ]
 
 [[package]]
@@ -1863,7 +1863,7 @@ dependencies = [
  "secret-sharing",
  "sgx-isa",
  "sp800-185",
- "thiserror",
+ "thiserror 2.0.3",
  "tiny-keccak 2.0.2",
  "tokio",
  "x25519-dalek",
@@ -1926,7 +1926,7 @@ dependencies = [
  "tendermint-proto",
  "tendermint-rpc",
  "tendermint-testgen",
- "thiserror",
+ "thiserror 2.0.3",
  "tiny-keccak 2.0.2",
  "tokio",
  "tokio-retry",
@@ -1958,7 +1958,7 @@ dependencies = [
  "anyhow",
  "clap",
  "serde",
- "thiserror",
+ "thiserror 2.0.3",
  "toml",
 ]
 
@@ -2024,7 +2024,7 @@ checksum = "a948666b637a0f465e8564c73e89d4dde00d72d4d473cc972f390fc3dcee7d9c"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -2157,7 +2157,7 @@ checksum = "2f38a4412a78282e09a2cf38d195ea5420d15ba0602cb375210efbc877243965"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -2241,7 +2241,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "5f12335488a2f3b0a83b14edad48dca9879ce89b2edd10e80237e4e852dd645e"
 dependencies = [
  "proc-macro2",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -2292,7 +2292,7 @@ dependencies = [
  "itertools",
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -2502,9 +2502,9 @@ dependencies = [
 
 [[package]]
 name = "rustix"
-version = "0.38.37"
+version = "0.38.40"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8acb788b847c24f28525660c4d7758620a7210875711f79e7f663cc152726811"
+checksum = "99e4ea3e1cdc4b559b8e5650f9c8e5998e3e5c1343b4eaf034565f32318d63c0"
 dependencies = [
  "bitflags 2.6.0",
  "errno",
@@ -2515,9 +2515,9 @@ dependencies = [
 
 [[package]]
 name = "rustls"
-version = "0.23.14"
+version = "0.23.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "415d9944693cb90382053259f89fbb077ea730ad7273047ec63b19bc9b160ba8"
+checksum = "eee87ff5d9b36712a58574e12e9f0ea80f915a5b0ac518d322b24a465617925e"
 dependencies = [
  "log",
  "once_cell",
@@ -2567,9 +2567,9 @@ dependencies = [
 
 [[package]]
 name = "rustls-pki-types"
-version = "1.9.0"
+version = "1.10.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0e696e35370c65c9c541198af4543ccd580cf17fc25d8e05c5a242b202488c55"
+checksum = "16f1201b3c9a7ee8039bcadc17b7e605e2945b27eee7631788c1bd2b0643674b"
 
 [[package]]
 name = "rustls-webpki"
@@ -2629,7 +2629,7 @@ dependencies = [
  "rand_core",
  "sha3",
  "subtle",
- "thiserror",
+ "thiserror 2.0.3",
  "zeroize",
 ]
 
@@ -2641,9 +2641,9 @@ checksum = "61697e0a1c7e512e84a621326239844a24d8207b4669b41bc18b32ea5cbf988b"
 
 [[package]]
 name = "serde"
-version = "1.0.210"
+version = "1.0.215"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c8e3592472072e6e22e0a54d5904d9febf8508f65fb8552499a1abc7d1078c3a"
+checksum = "6513c1ad0b11a9376da888e3e0baa0077f1aed55c17f50e7b2397136129fb88f"
 dependencies = [
  "serde_derive",
 ]
@@ -2669,20 +2669,20 @@ dependencies = [
 
 [[package]]
 name = "serde_derive"
-version = "1.0.210"
+version = "1.0.215"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "243902eda00fad750862fc144cea25caca5e20d615af0a81bee94ca738f1df1f"
+checksum = "ad1e866f866923f252f05c889987993144fb74e722403468a4ebd70c3cd756c0"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
 name = "serde_json"
-version = "1.0.128"
+version = "1.0.132"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6ff5456707a1de34e7e37f2a6fd3d3f808c318259cbd01ab6377795054b483d8"
+checksum = "d726bfaff4b320266d395898905d0eba0345aae23b54aee3a737e260fd46db03"
 dependencies = [
  "itoa",
  "memchr",
@@ -2698,7 +2698,7 @@ checksum = "6c64451ba24fc7a6a2d60fc75dd9c83c90903b19028d4eff35e88fc1e86564e9"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -2731,7 +2731,7 @@ dependencies = [
  "openssl",
  "openssl-sys",
  "sgx-isa",
- "thiserror",
+ "thiserror 1.0.69",
  "time",
 ]
 
@@ -2747,7 +2747,7 @@ dependencies = [
  "nix 0.15.0",
  "sgx-isa",
  "sgxs",
- "thiserror",
+ "thiserror 1.0.69",
  "winapi",
 ]
 
@@ -2834,7 +2834,7 @@ dependencies = [
  "oasis-core-keymanager",
  "oasis-core-runtime",
  "simple-keymanager",
- "thiserror",
+ "thiserror 2.0.3",
  "tokio",
 ]
 
@@ -3014,9 +3014,9 @@ dependencies = [
 
 [[package]]
 name = "syn"
-version = "2.0.72"
+version = "2.0.87"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dc4b9b9bf2add8093d3f2c0204471e951b2285580335de42f9d2534f3ae7a8af"
+checksum = "25aa4ce346d03a6dcd68dd8b4010bcb74e54e62c90c573f394c46eae99aba32d"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -3043,14 +3043,14 @@ checksum = "c8af7666ab7b6390ab78131fb5b0fce11d6b7a6951602017c35fa82800708971"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
 name = "tempfile"
-version = "3.13.0"
+version = "3.14.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f0f2c9fc62d0beef6951ccffd757e241266a2c833136efbe35af6cd2567dca5b"
+checksum = "28cce251fcbc87fac86a866eeb0d6c2d536fc16d06f184bb61aeae11aa4cee0c"
 dependencies = [
  "cfg-if 1.0.0",
  "fastrand",
@@ -3061,9 +3061,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2f3afea7809ffaaf1e5d9c3c9997cb3a834df7e94fbfab2fad2bc4577f1cde41"
+checksum = "37d513ce7f9e41c67ab2dd3d554ef65f36fbcc61745af1e1f93eafdeefa1ce37"
 dependencies = [
  "bytes 1.6.1",
  "digest 0.10.7",
@@ -3089,9 +3089,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint-config"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d8add7b85b0282e5901521f78fe441956ac1e2752452f4e1f2c0ce7e1f10d485"
+checksum = "4de4e66e78c6bfb768993e69c4fc5333dbc863f6d54ebd7a5d08d91556768087"
 dependencies = [
  "flex-error",
  "serde",
@@ -3103,9 +3103,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint-light-client"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8595e8c4b202c41588930be1fdf13d7c9c39c621704e3ee6592e6f8064f50926"
+checksum = "3e88c08a112db05101396a79f71c017d7dbf548dc21614f82251f17ecbe5d5e8"
 dependencies = [
  "contracts",
  "crossbeam-channel",
@@ -3127,9 +3127,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint-light-client-verifier"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c8c85693e8f7d65c19898292ae7ec90b565a73c5b4df15564987e0f0e895a451"
+checksum = "7affc5fffe9df158185e15bce3e47fc3a0c901e6708f3b7d33f0867d7aef8ce1"
 dependencies = [
  "derive_more",
  "flex-error",
@@ -3140,9 +3140,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint-proto"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bf3abf34ecf33125621519e9952688e7a59a98232d51538037ba21fbe526a802"
+checksum = "c81ba1b023ec00763c3bc4f4376c67c0047f185cccf95c416c7a2f16272c4cbb"
 dependencies = [
  "bytes 1.6.1",
  "flex-error",
@@ -3155,9 +3155,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint-rpc"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9693f42544bf3b41be3cbbfa418650c86e137fb8f5a57981659a84b677721ecf"
+checksum = "4d3ec9d6a266cb079a44272189b5a033227d058ab28659722557c1f7fed6b83c"
 dependencies = [
  "async-trait",
  "bytes 1.6.1",
@@ -3175,7 +3175,7 @@ dependencies = [
  "tendermint",
  "tendermint-config",
  "tendermint-proto",
- "thiserror",
+ "thiserror 1.0.69",
  "time",
  "url",
  "uuid",
@@ -3184,9 +3184,9 @@ dependencies = [
 
 [[package]]
 name = "tendermint-testgen"
-version = "0.39.1"
+version = "0.40.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0fc535d944d2584ee904aa0a2d0d0598e41e0966c23732c341d5a0cc199e5a2e"
+checksum = "7d97c36f54bf8754292166604e0c1a16cdbac3c7a2b59cb866f068b25fb0c811"
 dependencies = [
  "ed25519-consensus",
  "gumdrop",
@@ -3200,22 +3200,42 @@ dependencies = [
 
 [[package]]
 name = "thiserror"
-version = "1.0.64"
+version = "1.0.69"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "b6aaf5339b578ea85b50e080feb250a3e8ae8cfcdff9a461c9ec2904bc923f52"
+dependencies = [
+ "thiserror-impl 1.0.69",
+]
+
+[[package]]
+name = "thiserror"
+version = "2.0.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d50af8abc119fb8bb6dbabcfa89656f46f84aa0ac7688088608076ad2b459a84"
+checksum = "c006c85c7651b3cf2ada4584faa36773bd07bac24acfb39f3c431b36d7e667aa"
 dependencies = [
- "thiserror-impl",
+ "thiserror-impl 2.0.3",
+]
+
+[[package]]
+name = "thiserror-impl"
+version = "1.0.69"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4fee6c4efc90059e10f81e6d42c60a18f76588c3d74cb83a0b242a2b6c7504c1"
+dependencies = [
+ "proc-macro2",
+ "quote",
+ "syn 2.0.87",
 ]
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.64"
+version = "2.0.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "08904e7672f5eb876eaaf87e0ce17857500934f4981c4a0ab2b4aa98baac7fc3"
+checksum = "f077553d607adc1caf65430528a576c757a71ed73944b66ebb58ef2bbd243568"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -3286,9 +3306,9 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokio"
-version = "1.40.0"
+version = "1.41.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e2b070231665d27ad9ec9b8df639893f46727666c6767db40317fbe920a5d998"
+checksum = "22cfb5bee7a6a52939ca9224d6ac897bb669134078daa8735560897f69de4d33"
 dependencies = [
  "backtrace",
  "bytes 1.6.1",
@@ -3321,7 +3341,7 @@ checksum = "693d596312e88961bc67d7f1f97af8a70227d9f90c31bba5806eec004978d752"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
 
 [[package]]
@@ -3542,7 +3562,7 @@ dependencies = [
  "once_cell",
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
  "wasm-bindgen-shared",
 ]
 
@@ -3564,7 +3584,7 @@ checksum = "e94f17b526d0a461a191c78ea52bbce64071ed5c04c9ffe424dcb38f74171bb7"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
  "wasm-bindgen-backend",
  "wasm-bindgen-shared",
 ]
@@ -3752,7 +3772,7 @@ dependencies = [
  "nom",
  "oid-registry 0.6.1",
  "rusticata-macros",
- "thiserror",
+ "thiserror 1.0.69",
  "time",
 ]
 
@@ -3769,7 +3789,7 @@ dependencies = [
  "nom",
  "oid-registry 0.7.1",
  "rusticata-macros",
- "thiserror",
+ "thiserror 1.0.69",
  "time",
 ]
 
@@ -3818,5 +3838,5 @@ checksum = "ce36e65b0d2999d2aafac989fb249189a141aee1f53c612c1f37d72631959f69"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.72",
+ "syn 2.0.87",
 ]
diff --git a/keymanager/Cargo.toml b/keymanager/Cargo.toml
index c19749e623b..4a8049a5a38 100644
--- a/keymanager/Cargo.toml
+++ b/keymanager/Cargo.toml
@@ -20,10 +20,10 @@ rand = "0.8.5"
 rustc-hex = "2.0.1"
 sgx-isa = { version = "0.4.0", features = ["sgxstd"] }
 sp800-185 = "0.2.0"
-thiserror = "1.0"
+thiserror = "2.0"
 tiny-keccak = { version = "2.0.2", features = ["sha3"] }
 x25519-dalek = { version = "2.0.1", features = ["static_secrets"] }
-tokio = { version = "1.40", features = ["rt"] }
+tokio = { version = "1.41", features = ["rt"] }
 zeroize = "1.7"
 async-trait = "0.1.83"
 p384 = { version = "0.13.0" }
diff --git a/runtime-loader/Cargo.toml b/runtime-loader/Cargo.toml
index 7eb6ea103cb..7a4909e78c5 100644
--- a/runtime-loader/Cargo.toml
+++ b/runtime-loader/Cargo.toml
@@ -5,10 +5,10 @@ authors = ["Oasis Protocol Foundation <info@oasisprotocol.org>"]
 edition = "2018"
 
 [dependencies]
-clap = "4.5.20"
+clap = "4.5.21"
 anyhow = "1.0"
 futures = { version = "0.3.31", features = ["compat", "io-compat"] }
-tokio = { version = "1.40", features = ["full"] }
+tokio = { version = "1.41", features = ["full"] }
 
 [target.'cfg(target_os = "linux")'.dependencies]
 aesm-client = { version = "0.6.0", features = ["sgxs"] }
diff --git a/runtime/Cargo.toml b/runtime/Cargo.toml
index a34f9009354..138f42214f6 100644
--- a/runtime/Cargo.toml
+++ b/runtime/Cargo.toml
@@ -13,13 +13,13 @@ slog = "2.7.0"
 slog-json = "2.6.0"
 slog-scope = "4.4.0"
 slog-stdlog = "4.1.0"
-serde = { version = "1.0.210", features = ["derive"] }
-serde_json = { version = "1.0.128", features = ["raw_value"] }
+serde = { version = "1.0.215", features = ["derive"] }
+serde_json = { version = "1.0.132", features = ["raw_value"] }
 lazy_static = "1.3.0"
 crossbeam = "0.8.4"
 byteorder = "1.4.3"
 anyhow = "1.0"
-thiserror = "1.0"
+thiserror = "2.0"
 sgx-isa = { version = "0.4.1", features = ["sgxstd"] }
 mbedtls = { version = "0.12.3", features = ["x509"] }
 yasna = { version = "0.5.0", features = ["num-bigint"] }
@@ -32,12 +32,12 @@ base64 = "0.22.1"
 rustc-hex = "2.0.1"
 rand = "0.8.5"
 futures = "0.3.31"
-tokio = { version = "1.40", features = ["rt", "rt-multi-thread", "sync", "time"] }
+tokio = { version = "1.41", features = ["rt", "rt-multi-thread", "sync", "time"] }
 tokio-retry = "0.3.0"
-tendermint = "0.39.1"
-tendermint-proto = "0.39.1"
-tendermint-light-client = { version = "0.39.1", features = ["rust-crypto"], default-features = false }
-tendermint-rpc = { version = "0.39.1", default-features = false }
+tendermint = "0.40.0"
+tendermint-proto = "0.40.0"
+tendermint-light-client = { version = "0.40.0", features = ["rust-crypto"], default-features = false }
+tendermint-rpc = { version = "0.40.0", default-features = false }
 curve25519-dalek = { version = "4.1.3", features = ["legacy_compatibility"] }
 x25519-dalek = { version = "2.0.1", features = ["static_secrets"] }
 ed25519-dalek = { version = "2.0.0", features = ["rand_core", "digest"] }
@@ -49,7 +49,7 @@ intrusive-collections = "0.9.7"
 sha2 = { version = "0.10.7", features = ["oid"] }
 hmac = "0.12.1"
 honggfuzz = "0.5.55"
-arbitrary = { version = "1.2.0", features = ["derive"] }
+arbitrary = { version = "1.4.1", features = ["derive"] }
 num-bigint = "0.4"
 num-traits = "0.2.19"
 num-derive = "0.4.2"
@@ -64,19 +64,19 @@ async-trait = "0.1.83"
 cfg-if = "1.0"
 
 # TDX dependencies.
-libc = { version = "0.2.158", optional = true }
+libc = { version = "0.2.162", optional = true }
 nix = { version = "0.29.0", features = ["mount", "signal"], optional = true }
 vsock = { version = "0.5.1", optional = true }
 
 [target.'cfg(not(target_env = "sgx"))'.dependencies.tokio]
-version = "1.40.0"
+version = "1.41.1"
 features = ["full"]
 
 [dev-dependencies]
 # For storage interoperability tests only.
 jsonrpc = { version = "0.18.0", features = ["simple_uds"] }
-tempfile = "3.13.0"
-tendermint-testgen = "0.39.1"
+tempfile = "3.14.0"
+tendermint-testgen = "0.40.0"
 
 [features]
 default = []
diff --git a/secret-sharing/Cargo.toml b/secret-sharing/Cargo.toml
index ae6e24183c6..c04652fb85a 100644
--- a/secret-sharing/Cargo.toml
+++ b/secret-sharing/Cargo.toml
@@ -16,7 +16,7 @@ rand = { version = "0.8" }
 rand_core = { version = "0.6" }
 sha3 = { version = "0.10" }
 subtle = { version = "2.6", default-features = false }
-thiserror = { version = "1.0" }
+thiserror = { version = "2.0" }
 zeroize = { version = "1.7" }
 
 [[bin]]
diff --git a/tests/runtimes/simple-keyvalue/Cargo.toml b/tests/runtimes/simple-keyvalue/Cargo.toml
index 1038de3c6c6..d542cb19622 100644
--- a/tests/runtimes/simple-keyvalue/Cargo.toml
+++ b/tests/runtimes/simple-keyvalue/Cargo.toml
@@ -27,9 +27,9 @@ simple-keymanager = { path = "../simple-keymanager" }
 
 # Third party.
 anyhow = "1.0"
-thiserror = "1.0"
+thiserror = "2.0"
 byteorder = "1.4.3"
-tokio = { version = "1.40.0", features = ["rt"] }
+tokio = { version = "1.41.1", features = ["rt"] }
 
 [features]
 debug-mock-sgx = [
diff --git a/tests/runtimes/simple-rofl/Cargo.toml b/tests/runtimes/simple-rofl/Cargo.toml
index 4d3c9814eb4..d9ea69887ef 100644
--- a/tests/runtimes/simple-rofl/Cargo.toml
+++ b/tests/runtimes/simple-rofl/Cargo.toml
@@ -21,10 +21,10 @@ anyhow = "1.0"
 async-trait = "0.1.83"
 mbedtls = { version = "0.12.3", features = ["x509"] }
 rand = "0.8.5"
-rustls = { version = "0.23.14", default-features = false }
+rustls = { version = "0.23.16", default-features = false }
 rustls-mbedcrypto-provider = { version = "0.1.0" }
 rustls-mbedpki-provider = { version = "0.2.0" }
-tokio = { version = "1.40.0", features = ["rt", "rt-multi-thread", "sync"] }
+tokio = { version = "1.41.1", features = ["rt", "rt-multi-thread", "sync"] }
 
 [features]
 debug-mock-sgx = [
diff --git a/tools/Cargo.toml b/tools/Cargo.toml
index 4db6b3a86b9..31230e287d0 100644
--- a/tools/Cargo.toml
+++ b/tools/Cargo.toml
@@ -6,10 +6,10 @@ edition = "2018"
 
 [dependencies]
 anyhow = "1.0"
-thiserror = "1.0"
-serde = { version = "1.0.210", features = ["derive"] }
+thiserror = "2.0"
+serde = { version = "1.0.215", features = ["derive"] }
 toml = "0.8.19"
-clap = "4.5.20"
+clap = "4.5.21"
 ansi_term = "0.12.1"
 
 [[bin]]