diff --git a/package.json b/package.json
index 3e57bc2..ed613a5 100644
--- a/package.json
+++ b/package.json
@@ -34,10 +34,10 @@
     "test:watch": "jest --watch"
   },
   "dependencies": {
-    "@ethereumjs/util": "^8.0.5",
+    "@ethereumjs/util": "^8.1.0",
     "@metamask/eth-sig-util": "^6.0.1",
-    "@metamask/utils": "^5.0.2",
-    "ethereum-cryptography": "^1.2.0",
+    "@metamask/utils": "^8.1.0",
+    "ethereum-cryptography": "^2.1.2",
     "randombytes": "^2.1.0"
   },
   "devDependencies": {
diff --git a/yarn.lock b/yarn.lock
index 5c58038..7aa7917 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -512,7 +512,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@ethereumjs/util@npm:^8.0.5, @ethereumjs/util@npm:^8.1.0":
+"@ethereumjs/util@npm:^8.1.0":
   version: 8.1.0
   resolution: "@ethereumjs/util@npm:8.1.0"
   dependencies:
@@ -986,7 +986,7 @@ __metadata:
   resolution: "@metamask/eth-simple-keyring@workspace:."
   dependencies:
     "@ethereumjs/tx": ^4.1.1
-    "@ethereumjs/util": ^8.0.5
+    "@ethereumjs/util": ^8.1.0
     "@lavamoat/allow-scripts": ^2.3.0
     "@metamask/auto-changelog": ^3.1.0
     "@metamask/eslint-config": ^11.1.0
@@ -994,7 +994,7 @@ __metadata:
     "@metamask/eslint-config-nodejs": ^11.1.0
     "@metamask/eslint-config-typescript": ^11.1.0
     "@metamask/eth-sig-util": ^6.0.1
-    "@metamask/utils": ^5.0.2
+    "@metamask/utils": ^8.1.0
     "@types/ethereumjs-tx": ^1.0.1
     "@types/jest": ^29.5.0
     "@types/node": ^18.15.10
@@ -1009,7 +1009,7 @@ __metadata:
     eslint-plugin-jsdoc: ^39.6.2
     eslint-plugin-node: ^11.1.0
     eslint-plugin-prettier: ^4.2.1
-    ethereum-cryptography: ^1.2.0
+    ethereum-cryptography: ^2.1.2
     ethereumjs-tx: ^1.3.7
     jest: ^29.5.0
     prettier: ^2.8.7
@@ -1046,6 +1046,20 @@ __metadata:
   languageName: node
   linkType: hard
 
+"@metamask/utils@npm:^8.1.0":
+  version: 8.1.0
+  resolution: "@metamask/utils@npm:8.1.0"
+  dependencies:
+    "@ethereumjs/tx": ^4.1.2
+    "@noble/hashes": ^1.3.1
+    "@types/debug": ^4.1.7
+    debug: ^4.3.4
+    semver: ^7.5.4
+    superstruct: ^1.0.3
+  checksum: 4cbee36d0c227f3e528930e83f75a0c6b71b55b332c3e162f0e87f3dd86ae017d0b20405d76ea054ab99e4d924d3d9b8b896ed12a12aae57b090350e5a625999
+  languageName: node
+  linkType: hard
+
 "@noble/curves@npm:1.1.0, @noble/curves@npm:~1.1.0":
   version: 1.1.0
   resolution: "@noble/curves@npm:1.1.0"
@@ -1055,13 +1069,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@noble/hashes@npm:1.2.0, @noble/hashes@npm:~1.2.0":
-  version: 1.2.0
-  resolution: "@noble/hashes@npm:1.2.0"
-  checksum: 8ca080ce557b8f40fb2f78d3aedffd95825a415ac8e13d7ffe3643f8626a8c2d99a3e5975b555027ac24316d8b3c02a35b8358567c0c23af681e6573602aa434
-  languageName: node
-  linkType: hard
-
 "@noble/hashes@npm:1.3.1":
   version: 1.3.1
   resolution: "@noble/hashes@npm:1.3.1"
@@ -1069,20 +1076,13 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@noble/hashes@npm:~1.3.0, @noble/hashes@npm:~1.3.1":
+"@noble/hashes@npm:^1.3.1, @noble/hashes@npm:~1.3.0, @noble/hashes@npm:~1.3.1":
   version: 1.3.2
   resolution: "@noble/hashes@npm:1.3.2"
   checksum: fe23536b436539d13f90e4b9be843cc63b1b17666a07634a2b1259dded6f490be3d050249e6af98076ea8f2ea0d56f578773c2197f2aa0eeaa5fba5bc18ba474
   languageName: node
   linkType: hard
 
-"@noble/secp256k1@npm:1.7.1, @noble/secp256k1@npm:~1.7.0":
-  version: 1.7.1
-  resolution: "@noble/secp256k1@npm:1.7.1"
-  checksum: d2301f1f7690368d8409a3152450458f27e54df47e3f917292de3de82c298770890c2de7c967d237eff9c95b70af485389a9695f73eb05a43e2bd562d18b18cb
-  languageName: node
-  linkType: hard
-
 "@nodelib/fs.scandir@npm:2.1.5":
   version: 2.1.5
   resolution: "@nodelib/fs.scandir@npm:2.1.5"
@@ -1165,17 +1165,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@scure/bip32@npm:1.1.5":
-  version: 1.1.5
-  resolution: "@scure/bip32@npm:1.1.5"
-  dependencies:
-    "@noble/hashes": ~1.2.0
-    "@noble/secp256k1": ~1.7.0
-    "@scure/base": ~1.1.0
-  checksum: b08494ab0d2b1efee7226d1b5100db5157ebea22a78bb87126982a76a186cb3048413e8be0ba2622d00d048a20acbba527af730de86c132a77de616eb9907a3b
-  languageName: node
-  linkType: hard
-
 "@scure/bip32@npm:1.3.1":
   version: 1.3.1
   resolution: "@scure/bip32@npm:1.3.1"
@@ -1187,16 +1176,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@scure/bip39@npm:1.1.1":
-  version: 1.1.1
-  resolution: "@scure/bip39@npm:1.1.1"
-  dependencies:
-    "@noble/hashes": ~1.2.0
-    "@scure/base": ~1.1.0
-  checksum: fbb594c50696fa9c14e891d872f382e50a3f919b6c96c55ef2fb10c7102c546dafb8f099a62bd114c12a00525b595dcf7381846f383f0ddcedeaa6e210747d2f
-  languageName: node
-  linkType: hard
-
 "@scure/bip39@npm:1.2.1":
   version: 1.2.1
   resolution: "@scure/bip39@npm:1.2.1"
@@ -3295,18 +3274,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"ethereum-cryptography@npm:^1.2.0":
-  version: 1.2.0
-  resolution: "ethereum-cryptography@npm:1.2.0"
-  dependencies:
-    "@noble/hashes": 1.2.0
-    "@noble/secp256k1": 1.7.1
-    "@scure/bip32": 1.1.5
-    "@scure/bip39": 1.1.1
-  checksum: 97e8e8253cb9f5a9271bd0201c37609c451c890eb85883b9c564f14743c3d7c673287406c93bf5604307593ee298ad9a03983388b85c11ca61461b9fc1a4f2c7
-  languageName: node
-  linkType: hard
-
 "ethereum-cryptography@npm:^2.0.0, ethereum-cryptography@npm:^2.1.2":
   version: 2.1.2
   resolution: "ethereum-cryptography@npm:2.1.2"
@@ -6289,14 +6256,14 @@ __metadata:
   languageName: node
   linkType: hard
 
-"semver@npm:7.x, semver@npm:^7.3.2, semver@npm:^7.3.5, semver@npm:^7.3.7, semver@npm:^7.3.8":
-  version: 7.3.8
-  resolution: "semver@npm:7.3.8"
+"semver@npm:7.x, semver@npm:^7.3.2, semver@npm:^7.3.5, semver@npm:^7.3.7, semver@npm:^7.3.8, semver@npm:^7.5.4":
+  version: 7.5.4
+  resolution: "semver@npm:7.5.4"
   dependencies:
     lru-cache: ^6.0.0
   bin:
     semver: bin/semver.js
-  checksum: ba9c7cbbf2b7884696523450a61fee1a09930d888b7a8d7579025ad93d459b2d1949ee5bbfeb188b2be5f4ac163544c5e98491ad6152df34154feebc2cc337c1
+  checksum: 12d8ad952fa353b0995bf180cdac205a4068b759a140e5d3c608317098b3575ac2f1e09182206bf2eb26120e1c0ed8fb92c48c592f6099680de56bb071423ca3
   languageName: node
   linkType: hard