diff --git a/packages/shared/package.json b/packages/shared/package.json
index 60e8910597e7..7d7eb1ca3d5c 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -54,7 +54,7 @@
     "unstated-next": "^1.1.0",
     "use-subscription": "^1.8.0",
     "web3-core-helpers": "1.10.2",
-    "web3-utils": "1.10.2",
+    "web3-utils": "4.2.1",
     "zod": "^3.22.2"
   },
   "devDependencies": {