diff --git a/Cargo.lock b/Cargo.lock
index 954eb1112..39e066c8f 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -569,6 +569,32 @@ version = "0.8.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "5e764a1d40d510daf35e07be9eb06e75770908c27d411ee6c92109c9840eaaf7"
 
+[[package]]
+name = "bitcoin-consensus-encoding"
+version = "1.2.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "6712f9c6fd6785b3b270884e57c441c403dc5d7e19ca45368c97c7a1de3000ec"
+dependencies = [
+ "bitcoin-internals",
+ "hex-conservative 1.2.0",
+ "serde",
+]
+
+[[package]]
+name = "bitcoin-internals"
+version = "0.6.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d573f4cf32996a8dce612e4348cece65a241f1882ed594047c9ba348e8869fa5"
+
+[[package]]
+name = "bitcoin-io"
+version = "0.1.101"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "bb5de036369d1ac59d3c1819ebc4d850f89466f5401c571a285b6ed564a4cb78"
+dependencies = [
+ "bitcoin-consensus-encoding",
+]
+
 [[package]]
 name = "bitcoin_hashes"
 version = "0.13.1"
@@ -584,6 +610,7 @@ version = "0.14.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "26ec84b80c482df901772e931a9a681e26a1b9ee2302edeff23cb30328745c8b"
 dependencies = [
+ "bitcoin-io",
  "hex-conservative 0.2.2",
 ]
 
@@ -2504,6 +2531,15 @@ dependencies = [
  "arrayvec 0.7.6",
 ]
 
+[[package]]
+name = "hex-conservative"
+version = "1.2.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "35431185f361ccf3ffc58254628af5f1f5d5f28531da2e02e5d6c82bbc282a10"
+dependencies = [
+ "arrayvec 0.7.6",
+]
+
 [[package]]
 name = "hex-literal"
 version = "0.4.1"
@@ -5396,7 +5432,7 @@ dependencies = [
  "ink 5.1.1",
  "parity-scale-codec",
  "scale-info",
- "secp256k1 0.28.2",
+ "secp256k1 0.31.1",
 ]
 
 [[package]]
@@ -5407,7 +5443,7 @@ dependencies = [
  "parity-scale-codec",
  "propchain-traits",
  "scale-info",
- "secp256k1 0.28.2",
+ "secp256k1 0.31.1",
 ]
 
 [[package]]
@@ -6196,6 +6232,17 @@ dependencies = [
  "secp256k1-sys 0.9.2",
 ]
 
+[[package]]
+name = "secp256k1"
+version = "0.31.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "2c3c81b43dc2d8877c216a3fccf76677ee1ebccd429566d3e67447290d0c42b2"
+dependencies = [
+ "bitcoin_hashes 0.14.1",
+ "rand 0.9.4",
+ "secp256k1-sys 0.11.0",
+]
+
 [[package]]
 name = "secp256k1-sys"
 version = "0.8.2"
@@ -6214,6 +6261,15 @@ dependencies = [
  "cc",
 ]
 
+[[package]]
+name = "secp256k1-sys"
+version = "0.11.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "dcb913707158fadaf0d8702c2db0e857de66eb003ccfdda5924b5f5ac98efb38"
+dependencies = [
+ "cc",
+]
+
 [[package]]
 name = "secrecy"
 version = "0.8.0"
diff --git a/contracts/property-management/Cargo.toml b/contracts/property-management/Cargo.toml
index c4e7efc73..184958890 100644
--- a/contracts/property-management/Cargo.toml
+++ b/contracts/property-management/Cargo.toml
@@ -28,4 +28,4 @@ std = [
 ]
 
 [target.'cfg(not(target_arch = "wasm32"))'.dev-dependencies]
-secp256k1 = { version = "0.28.2", features = ["recovery"] }
+secp256k1 = { version = "0.31.1", features = ["recovery"] }
diff --git a/contracts/traits/Cargo.toml b/contracts/traits/Cargo.toml
index 2b3cd82e5..936abc236 100644
--- a/contracts/traits/Cargo.toml
+++ b/contracts/traits/Cargo.toml
@@ -23,5 +23,5 @@ std = [
 ]
 
 [target.'cfg(not(target_arch = "wasm32"))'.dev-dependencies.secp256k1]
-version = "0.28.2"
+version = "0.31.1"
 features = ["recovery"]