diff --git a/Cargo.lock b/Cargo.lock
index ce136ea479..a28a700a00 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1,5 +1,7 @@
 # This file is automatically @generated by Cargo.
 # It is not intended for manual editing.
+version = 3
+
 [[package]]
 name = "Inflector"
 version = "0.11.4"
@@ -2364,6 +2366,17 @@ dependencies = [
  "hmac 0.7.1",
 ]
 
+[[package]]
+name = "hmac-drbg"
+version = "0.3.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "17ea0a1394df5b6574da6e0c1ade9e78868c9fb0a4e5ef4428e32da4676b85b1"
+dependencies = [
+ "digest 0.9.0",
+ "generic-array 0.14.4",
+ "hmac 0.8.1",
+]
+
 [[package]]
 name = "honggfuzz"
 version = "0.5.52"
@@ -3019,7 +3032,7 @@ dependencies = [
  "futures 0.3.12",
  "futures-timer 3.0.2",
  "lazy_static",
- "libsecp256k1",
+ "libsecp256k1 0.3.5",
  "log",
  "multihash",
  "multistream-select",
@@ -3395,13 +3408,61 @@ dependencies = [
  "arrayref",
  "crunchy",
  "digest 0.8.1",
- "hmac-drbg",
+ "hmac-drbg 0.2.0",
  "rand 0.7.3",
  "sha2 0.8.2",
  "subtle 2.4.0",
  "typenum",
 ]
 
+[[package]]
+name = "libsecp256k1"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "bd1137239ab33b41aa9637a88a28249e5e70c40a42ccc92db7f12cc356c1fcd7"
+dependencies = [
+ "arrayref",
+ "base64 0.12.3",
+ "digest 0.9.0",
+ "hmac-drbg 0.3.0",
+ "libsecp256k1-core",
+ "libsecp256k1-gen-ecmult",
+ "libsecp256k1-gen-genmult",
+ "rand 0.7.3",
+ "serde",
+ "sha2 0.9.3",
+ "typenum",
+]
+
+[[package]]
+name = "libsecp256k1-core"
+version = "0.2.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d0f6ab710cec28cef759c5f18671a27dae2a5f952cdaaee1d8e2908cb2478a80"
+dependencies = [
+ "crunchy",
+ "digest 0.9.0",
+ "subtle 2.4.0",
+]
+
+[[package]]
+name = "libsecp256k1-gen-ecmult"
+version = "0.2.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "ccab96b584d38fac86a83f07e659f0deafd0253dc096dab5a36d53efe653c5c3"
+dependencies = [
+ "libsecp256k1-core",
+]
+
+[[package]]
+name = "libsecp256k1-gen-genmult"
+version = "0.2.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "67abfe149395e3aa1c48a2beb32b068e2334402df8181f818d3aee2b304c4f5d"
+dependencies = [
+ "libsecp256k1-core",
+]
+
 [[package]]
 name = "libz-sys"
 version = "1.1.2"
@@ -7206,7 +7267,7 @@ dependencies = [
  "derive_more",
  "hex-literal",
  "lazy_static",
- "libsecp256k1",
+ "libsecp256k1 0.5.0",
  "log",
  "parity-scale-codec",
  "parity-wasm 0.41.0",
@@ -8611,7 +8672,7 @@ dependencies = [
  "hex-literal",
  "impl-serde",
  "lazy_static",
- "libsecp256k1",
+ "libsecp256k1 0.5.0",
  "log",
  "merlin",
  "num-traits",
@@ -8714,7 +8775,7 @@ version = "3.0.0"
 dependencies = [
  "futures 0.3.12",
  "hash-db",
- "libsecp256k1",
+ "libsecp256k1 0.5.0",
  "log",
  "parity-scale-codec",
  "parking_lot 0.11.1",
diff --git a/client/executor/Cargo.toml b/client/executor/Cargo.toml
index e0b21b7fb6..f25d010d7b 100644
--- a/client/executor/Cargo.toml
+++ b/client/executor/Cargo.toml
@@ -35,7 +35,7 @@ sc-executor-wasmi = { version = "0.9.0", path = "wasmi" }
 sc-executor-wasmtime = { version = "0.9.0", path = "wasmtime", optional = true }
 parking_lot = "0.11.1"
 log = "0.4.8"
-libsecp256k1 = "0.3.4"
+libsecp256k1 = "0.5.0"
 
 [dev-dependencies]
 assert_matches = "1.3.0"
diff --git a/primitives/core/Cargo.toml b/primitives/core/Cargo.toml
index 3d9cf1287e..f0bda29358 100644
--- a/primitives/core/Cargo.toml
+++ b/primitives/core/Cargo.toml
@@ -49,7 +49,7 @@ schnorrkel = { version = "0.9.1", features = ["preaudit_deprecated", "u64_backen
 sha2 = { version = "0.9.2", default-features = false, optional = true }
 hex = { version = "0.4", default-features = false, optional = true }
 twox-hash = { version = "1.5.0", default-features = false, optional = true }
-libsecp256k1 = { version = "0.3.2", default-features = false, features = ["hmac"], optional = true }
+libsecp256k1 = { version = "0.5.0", default-features = false, features = ["hmac"], optional = true }
 merlin = { version = "2.0", default-features = false, optional = true }
 
 sp-runtime-interface = { version = "3.0.0", default-features = false, path = "../runtime-interface" }
diff --git a/primitives/io/Cargo.toml b/primitives/io/Cargo.toml
index f87711b172..c384a43aae 100644
--- a/primitives/io/Cargo.toml
+++ b/primitives/io/Cargo.toml
@@ -20,7 +20,7 @@ hash-db = { version = "0.15.2", default-features = false }
 sp-core = { version = "3.0.0", default-features = false, path = "../core" }
 sp-keystore = { version = "0.9.0", default-features = false, optional = true, path = "../keystore" }
 sp-std = { version = "3.0.0", default-features = false, path = "../std" }
-libsecp256k1 = { version = "0.3.4", optional = true }
+libsecp256k1 = { version = "0.5.0", optional = true }
 sp-state-machine = { version = "0.9.0", optional = true, path = "../state-machine" }
 sp-wasm-interface = { version = "3.0.0", path = "../wasm-interface", default-features = false }
 sp-runtime-interface = { version = "3.0.0", default-features = false, path = "../runtime-interface" }