diff --git a/package.json b/package.json
index 4be21093..60b2f6b3 100644
--- a/package.json
+++ b/package.json
@@ -85,7 +85,7 @@
   "dependencies": {
     "axios": "^0.21.0",
     "bignumber.js": "^9.0.1",
-    "bs58": "^4.0.1",
+    "bs58": "^5.0.0",
     "reflect-metadata": "^0.1.13",
     "standard-version": "^9.1.0"
   },
diff --git a/yarn.lock b/yarn.lock
index 290cd923..e6ab67e6 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -2831,6 +2831,11 @@ base-x@^3.0.2, base-x@^3.0.6:
   dependencies:
     safe-buffer "^5.0.1"
 
+base-x@^4.0.0:
+  version "4.0.0"
+  resolved "https://registry.yarnpkg.com/base-x/-/base-x-4.0.0.tgz#d0e3b7753450c73f8ad2389b5c018a4af7b2224a"
+  integrity sha512-FuwxlW4H5kh37X/oW59pwTzzTKRzfrrQwhmyspRM7swOEZcHtDZSCt45U6oKgtuFE+WYPblePMVIPR4RZrh/hw==
+
 base64-js@^1.3.1:
   version "1.5.1"
   resolved "https://registry.yarnpkg.com/base64-js/-/base64-js-1.5.1.tgz#1b1b440160a5bf7ad40b650f095963481903930a"
@@ -2974,13 +2979,20 @@ bs-logger@0.x:
   dependencies:
     fast-json-stable-stringify "2.x"
 
-bs58@^4.0.0, bs58@^4.0.1:
+bs58@^4.0.0:
   version "4.0.1"
   resolved "https://registry.yarnpkg.com/bs58/-/bs58-4.0.1.tgz#be161e76c354f6f788ae4071f63f34e8c4f0a42a"
   integrity sha1-vhYedsNU9veIrkBx9j806MTwpCo=
   dependencies:
     base-x "^3.0.2"
 
+bs58@^5.0.0:
+  version "5.0.0"
+  resolved "https://registry.yarnpkg.com/bs58/-/bs58-5.0.0.tgz#865575b4d13c09ea2a84622df6c8cbeb54ffc279"
+  integrity sha512-r+ihvQJvahgYT50JD05dyJNKlmmSlMoOGwn1lCcEzanPglg7TxYjioQUYehQ9mAR/+hOSd2jRc/Z2y5UxBymvQ==
+  dependencies:
+    base-x "^4.0.0"
+
 bs58check@^2.1.2:
   version "2.1.2"
   resolved "https://registry.yarnpkg.com/bs58check/-/bs58check-2.1.2.tgz#53b018291228d82a5aa08e7d796fdafda54aebfc"