diff --git a/Cargo.lock b/Cargo.lock
index 17f821a640e500..e4e27709be8926 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -726,7 +726,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "4114279215a005bc675e386011e594e1d9b800918cea18fcadadcce864a2046b"
 dependencies = [
  "borsh-derive 0.10.3",
- "hashbrown 0.13.2",
+ "hashbrown 0.11.2",
 ]
 
 [[package]]
@@ -7393,7 +7393,7 @@ dependencies = [
  "Inflector",
  "base64 0.21.7",
  "bincode",
- "borsh 0.10.3",
+ "borsh 1.2.1",
  "bs58",
  "lazy_static",
  "log",
diff --git a/transaction-status/Cargo.toml b/transaction-status/Cargo.toml
index a4837acb3e107d..fc9182fff6e30c 100644
--- a/transaction-status/Cargo.toml
+++ b/transaction-status/Cargo.toml
@@ -15,7 +15,7 @@ base64 = { workspace = true }
 bincode = { workspace = true }
 # Update this borsh dependency to the workspace version once
 # spl-associated-token-account is upgraded and used in the monorepo.
-borsh = { version = "0.10.3" }
+borsh = { version = "1.2.1" }
 bs58 = { workspace = true }
 lazy_static = { workspace = true }
 log = { workspace = true }