diff --git a/Cargo.lock b/Cargo.lock
index 2e79300cff9..dcaf0eba016 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2003,9 +2003,9 @@ dependencies = [
 
 [[package]]
 name = "hkdf"
-version = "0.12.3"
+version = "0.12.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "791a029f6b9fc27657f6f188ec6e5e43f6911f6f878e0dc5501396e09809d437"
+checksum = "7b5f8eb2ad728638ea2c7d47a21db23b7b58a72ed6a38256b8a1849f15fbbdf7"
 dependencies = [
  "hmac 0.12.1",
 ]
diff --git a/identity/Cargo.toml b/identity/Cargo.toml
index e7aa15fef07..5234507ec2d 100644
--- a/identity/Cargo.toml
+++ b/identity/Cargo.toml
@@ -15,7 +15,7 @@ categories = ["cryptography"]
 asn1_der = { version = "0.7.6", optional = true }
 bs58 = { version = "0.5.0", optional = true }
 ed25519-dalek = { version = "2.1", optional = true }
-hkdf = { version = "0.12.3", optional = true }
+hkdf = { version = "0.12.4", optional = true }
 libsecp256k1 = { version = "0.7.0", optional = true }
 tracing = "0.1.37"
 multihash = { version = "0.19.1", optional = true }