diff --git a/examples/cactus-example-carbon-accounting-backend/package.json b/examples/cactus-example-carbon-accounting-backend/package.json
index eec63e7890f..25522c70fcf 100644
--- a/examples/cactus-example-carbon-accounting-backend/package.json
+++ b/examples/cactus-example-carbon-accounting-backend/package.json
@@ -62,7 +62,7 @@
     "@hyperledger/cactus-plugin-ledger-connector-fabric": "1.2.0",
     "@hyperledger/cactus-plugin-ledger-connector-xdai": "1.2.0",
     "@hyperledger/cactus-test-tooling": "1.2.0",
-    "@openzeppelin/contracts": "4.7.3",
+    "@openzeppelin/contracts": "4.8.3",
     "@openzeppelin/contracts-upgradeable": "4.7.3",
     "async-exit-hook": "2.0.1",
     "fabric-network": "2.2.10",
diff --git a/yarn.lock b/yarn.lock
index 5e795651508..2f535c4b26f 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4723,10 +4723,10 @@
   resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-4.7.3.tgz#f1d606e2827d409053f3e908ba4eb8adb1dd6995"
   integrity sha512-+wuegAMaLcZnLCJIvrVUDzA9z/Wp93f0Dla/4jJvIhijRrPabjQbZe6fWiECLaJyfn5ci9fqf9vTw3xpQOad2A==
 
-"@openzeppelin/contracts@4.7.3":
-  version "4.7.3"
-  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.7.3.tgz#939534757a81f8d69cc854c7692805684ff3111e"
-  integrity sha512-dGRS0agJzu8ybo44pCIf3xBaPQN/65AIXNgK8+4gzKd5kbvlqyxryUYVLJv7fK98Seyd2hDZzVEHSWAh0Bt1Yw==
+"@openzeppelin/contracts@4.8.3":
+  version "4.8.3"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.8.3.tgz#cbef3146bfc570849405f59cba18235da95a252a"
+  integrity sha512-bQHV8R9Me8IaJoJ2vPG4rXcL7seB7YVuskr4f+f5RyOStSZetwzkWtoqDMl5erkBJy0lDRUnIR2WIkPiC0GJlg==
 
 "@polka/url@^1.0.0-next.20":
   version "1.0.0-next.21"