diff --git a/CHANGELOG.md b/CHANGELOG.md
index 12d3a9235dd..efe113f533e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -35,6 +35,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 # Changelog
 
 ## [Unreleased]
+* (deps) [#2488](https://github.com/cosmos/gaia/pull/2488) Bump [Cosmos SDK](https://github.com/cosmos/cosmos-sdk) to [v0.45.16-ics](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.45.16-ics), containing [this fix](https://github.com/cosmos/cosmos-sdk/pull/16097).
 
 ### Improvements
 * (test) [#2440](https://github.com/cosmos/gaia/pull/2440) Add vulncheck to nightly builds
diff --git a/go.mod b/go.mod
index 10fda580c5e..2257656e886 100644
--- a/go.mod
+++ b/go.mod
@@ -317,7 +317,7 @@ replace (
 	github.com/confio/ics23/go => github.com/confio/ics23/go v0.9.0
 
 	// Cosmos SDK & IBC
-	github.com/cosmos/cosmos-sdk => github.com/cosmos/cosmos-sdk v0.45.15-ics
+	github.com/cosmos/cosmos-sdk => github.com/cosmos/cosmos-sdk v0.45.16-ics
 	github.com/cosmos/ibc-go/v4 => github.com/cosmos/ibc-go/v4 v4.3.0
 
 	// TODO: remove it: https://github.com/cosmos/cosmos-sdk/issues/13134
diff --git a/go.sum b/go.sum
index ca78434c99a..e6270654586 100644
--- a/go.sum
+++ b/go.sum
@@ -277,8 +277,8 @@ github.com/cosmos/cosmos-db v0.0.0-20221226095112-f3c38ecb5e32 h1:zlCp9n3uwQieEL
 github.com/cosmos/cosmos-db v0.0.0-20221226095112-f3c38ecb5e32/go.mod h1:kwMlEC4wWvB48zAShGKVqboJL6w4zCLesaNQ3YLU2BQ=
 github.com/cosmos/cosmos-proto v1.0.0-beta.1 h1:iDL5qh++NoXxG8hSy93FdYJut4XfgbShIocllGaXx/0=
 github.com/cosmos/cosmos-proto v1.0.0-beta.1/go.mod h1:8k2GNZghi5sDRFw/scPL8gMSowT1vDA+5ouxL8GjaUE=
-github.com/cosmos/cosmos-sdk v0.45.15-ics h1:ujrXsulYGwggLCC0oD7CizvlAerqMQHfCHHjHqIamfY=
-github.com/cosmos/cosmos-sdk v0.45.15-ics/go.mod h1:bScuNwWAP0TZJpUf+SHXRU3xGoUPp+X9nAzfeIXts40=
+github.com/cosmos/cosmos-sdk v0.45.16-ics h1:KsPigLNmdyyQMktAsJzW42eBFsq1uajhQF7rlnHDUgM=
+github.com/cosmos/cosmos-sdk v0.45.16-ics/go.mod h1:bScuNwWAP0TZJpUf+SHXRU3xGoUPp+X9nAzfeIXts40=
 github.com/cosmos/go-bip39 v0.0.0-20180819234021-555e2067c45d/go.mod h1:tSxLoYXyBmiFeKpvmq4dzayMdCjCnu8uqmCysIGBT2Y=
 github.com/cosmos/go-bip39 v1.0.0 h1:pcomnQdrdH22njcAatO0yWojsUnCO3y2tNoV1cb6hHY=
 github.com/cosmos/go-bip39 v1.0.0/go.mod h1:RNJv0H/pOIVgxw6KS7QeX2a0Uo0aKUlfhZ4xuwvCdJw=