diff --git a/package.json b/package.json
index 04a9a6f30a0..113d00c2e6b 100644
--- a/package.json
+++ b/package.json
@@ -111,7 +111,7 @@
     "@toruslabs/fetch-node-details": "^14.0.1",
     "@toruslabs/torus.js": "^15.0.4",
     "@walletconnect/react-native-compat": "^2.16.1",
-    "@walletconnect/utils": "^2.16.0",
+    "@walletconnect/utils": "^2.16.1",
     "@walletconnect/web3wallet": "^1.15.1",
     "bignumber.js": "^9.1.2",
     "clevertap-react-native": "^2.2.1",
diff --git a/yarn.lock b/yarn.lock
index 5a961760cfd..ec30be7f63c 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -5073,7 +5073,7 @@
     "@walletconnect/logger" "2.1.2"
     events "3.3.0"
 
-"@walletconnect/utils@2.16.1", "@walletconnect/utils@^2.10.1", "@walletconnect/utils@^2.16.0":
+"@walletconnect/utils@2.16.1", "@walletconnect/utils@^2.10.1", "@walletconnect/utils@^2.16.1":
   version "2.16.1"
   resolved "https://registry.yarnpkg.com/@walletconnect/utils/-/utils-2.16.1.tgz#2099cc2bd16b0edc32022f64aa2c2c323b45d1d4"
   integrity sha512-aoQirVoDoiiEtYeYDtNtQxFzwO/oCrz9zqeEEXYJaAwXlGVTS34KFe7W3/Rxd/pldTYKFOZsku2EzpISfH8Wsw==