diff --git a/package.json b/package.json
index 2d34314..4c2f4d6 100644
--- a/package.json
+++ b/package.json
@@ -200,7 +200,7 @@
   "dependencies": {
     "@ipld/dag-cbor": "^9.0.0",
     "cborg": "^2.0.5",
-    "multiformats": "^11.0.0",
+    "multiformats": "^12.1.0",
     "varint": "^6.0.0"
   },
   "devDependencies": {