diff --git a/CHANGELOG.md b/CHANGELOG.md
index 714753709..91d518e4e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,14 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Changed
+
+- Bump `@metamask/scure-bip39` from `^2.0.3` to `^2.1.1` ([#311](https://github.com/MetaMask/utils/pull/311))
+- Bump `@metamask/superstruct` from `^3.1.0` to `^3.4.1` ([#311](https://github.com/MetaMask/utils/pull/311))
+- Bump `@noble/hashes` from `^1.3.1` to `^1.8.0` ([#311](https://github.com/MetaMask/utils/pull/311))
+- Bump `@scure/base` from `^1.1.3` to `^1.2.6` ([#311](https://github.com/MetaMask/utils/pull/311))
+- Bump `semver` from `^7.5.4` to `^7.6.3` ([#311](https://github.com/MetaMask/utils/pull/311))
+
 ## [11.12.1]
 
 ### Fixed
diff --git a/package.json b/package.json
index 3bc55c50f..468f6657f 100644
--- a/package.json
+++ b/package.json
@@ -62,16 +62,16 @@
   },
   "dependencies": {
     "@ethereumjs/tx": "^4.2.0",
-    "@metamask/scure-bip39": "^2.0.3",
-    "@metamask/superstruct": "^3.1.0",
-    "@noble/hashes": "^1.3.1",
-    "@scure/base": "^1.1.3",
+    "@metamask/scure-bip39": "^2.1.1",
+    "@metamask/superstruct": "^3.4.1",
+    "@noble/hashes": "^1.8.0",
+    "@scure/base": "^1.2.6",
     "@types/debug": "^4.1.7",
     "@types/lodash": "^4.17.20",
     "debug": "^4.3.4",
     "lodash": "^4.17.21",
     "pony-cause": "^2.1.10",
-    "semver": "^7.5.4",
+    "semver": "^7.6.3",
     "uuid": "^9.0.1"
   },
   "devDependencies": {
@@ -109,7 +109,7 @@
     "ts-node": "^10.7.0",
     "tsd": "^0.29.0",
     "typedoc": "^0.23.15",
-    "typescript": "~5.0.4",
+    "typescript": "~5.3.3",
     "web3": "^4.16.0"
   },
   "packageManager": "yarn@4.16.0",
diff --git a/tsconfig.json b/tsconfig.json
index 01e09f861..c38d8f82c 100644
--- a/tsconfig.json
+++ b/tsconfig.json
@@ -3,14 +3,15 @@
     "esModuleInterop": true,
     "exactOptionalPropertyTypes": true,
     "forceConsistentCasingInFileNames": true,
-    "lib": ["ES2020", "dom"],
-    "module": "nodenext",
-    "moduleResolution": "nodenext",
+    "isolatedModules": true,
+    "lib": ["ES2020", "DOM"],
+    "module": "Node16",
+    "moduleResolution": "Node16",
     "noEmit": true,
     "noErrorTruncation": true,
     "noUncheckedIndexedAccess": true,
     "strict": true,
-    "target": "es2020"
+    "target": "ES2020"
   },
   "exclude": ["./dist/**/*"]
 }
diff --git a/yarn.lock b/yarn.lock
index 621cc84c7..efce66022 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -1070,7 +1070,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@metamask/scure-bip39@npm:^2.0.3":
+"@metamask/scure-bip39@npm:^2.1.1":
   version: 2.1.1
   resolution: "@metamask/scure-bip39@npm:2.1.1"
   dependencies:
@@ -1080,10 +1080,10 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@metamask/superstruct@npm:^3.1.0":
-  version: 3.1.0
-  resolution: "@metamask/superstruct@npm:3.1.0"
-  checksum: 10/5066fe228d5f11da387606d7f9545de2b473ab5a9e0f1bb8aea2f52d3e2c9d25e427151acde61f4a2de80a07a9871fe9505ad06abca6a61b7c3b54ed5c403b01
+"@metamask/superstruct@npm:^3.4.1":
+  version: 3.4.1
+  resolution: "@metamask/superstruct@npm:3.4.1"
+  checksum: 10/d37b5662dc9bbe0d99e06eb951167fa745829ae3abfa103423e9d8c05e8712f1451376f8479d484722e1e1c1d881732da1efddccaca8868b530a786264b903b5
   languageName: node
   linkType: hard
 
@@ -1099,10 +1099,10 @@ __metadata:
     "@metamask/eslint-config-jest": "npm:^12.0.0"
     "@metamask/eslint-config-nodejs": "npm:^12.0.0"
     "@metamask/eslint-config-typescript": "npm:^12.0.0"
-    "@metamask/scure-bip39": "npm:^2.0.3"
-    "@metamask/superstruct": "npm:^3.1.0"
-    "@noble/hashes": "npm:^1.3.1"
-    "@scure/base": "npm:^1.1.3"
+    "@metamask/scure-bip39": "npm:^2.1.1"
+    "@metamask/superstruct": "npm:^3.4.1"
+    "@noble/hashes": "npm:^1.8.0"
+    "@scure/base": "npm:^1.2.6"
     "@ts-bridge/cli": "npm:^0.1.2"
     "@ts-bridge/shims": "npm:^0.1.1"
     "@types/debug": "npm:^4.1.7"
@@ -1130,13 +1130,13 @@ __metadata:
     pony-cause: "npm:^2.1.10"
     prettier: "npm:^2.7.1"
     prettier-plugin-packagejson: "npm:^2.3.0"
-    semver: "npm:^7.5.4"
+    semver: "npm:^7.6.3"
     stdio-mock: "npm:^1.2.0"
     ts-jest: "npm:^29.0.3"
     ts-node: "npm:^10.7.0"
     tsd: "npm:^0.29.0"
     typedoc: "npm:^0.23.15"
-    typescript: "npm:~5.0.4"
+    typescript: "npm:~5.3.3"
     uuid: "npm:^9.0.1"
     web3: "npm:^4.16.0"
   languageName: unknown
@@ -1158,7 +1158,14 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@noble/hashes@npm:^1.3.1, @noble/hashes@npm:~1.3.0, @noble/hashes@npm:~1.3.1, @noble/hashes@npm:~1.3.2":
+"@noble/hashes@npm:^1.8.0":
+  version: 1.8.0
+  resolution: "@noble/hashes@npm:1.8.0"
+  checksum: 10/474b7f56bc6fb2d5b3a42132561e221b0ea4f91e590f4655312ca13667840896b34195e2b53b7f097ec080a1fdd3b58d902c2a8d0fbdf51d2e238b53808a177e
+  languageName: node
+  linkType: hard
+
+"@noble/hashes@npm:~1.3.0, @noble/hashes@npm:~1.3.1, @noble/hashes@npm:~1.3.2":
   version: 1.3.3
   resolution: "@noble/hashes@npm:1.3.3"
   checksum: 10/1025ddde4d24630e95c0818e63d2d54ee131b980fe113312d17ed7468bc18f54486ac86c907685759f8a7e13c2f9b9e83ec7b67d1cc20836f36b5e4a65bb102d
@@ -1315,7 +1322,14 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@scure/base@npm:^1.1.3, @scure/base@npm:~1.1.0, @scure/base@npm:~1.1.3":
+"@scure/base@npm:^1.2.6":
+  version: 1.2.6
+  resolution: "@scure/base@npm:1.2.6"
+  checksum: 10/c1a7bd5e0b0c8f94c36fbc220f4a67cc832b00e2d2065c7d8a404ed81ab1c94c5443def6d361a70fc382db3496e9487fb9941728f0584782b274c18a4bed4187
+  languageName: node
+  linkType: hard
+
+"@scure/base@npm:~1.1.0, @scure/base@npm:~1.1.3":
   version: 1.1.9
   resolution: "@scure/base@npm:1.1.9"
   checksum: 10/f0ab7f687bbcdee2a01377fe3cd808bf63977999672751295b6a92625d5322f4754a96d40f6bd579bc367aad48ecf8a4e6d0390e70296e6ded1076f52adb16bb
@@ -6776,12 +6790,12 @@ __metadata:
   languageName: node
   linkType: hard
 
-"semver@npm:7.x, semver@npm:^7.0.0, semver@npm:^7.1.1, semver@npm:^7.3.4, semver@npm:^7.3.5, semver@npm:^7.3.7, semver@npm:^7.3.8, semver@npm:^7.5.3, semver@npm:^7.5.4":
-  version: 7.6.2
-  resolution: "semver@npm:7.6.2"
+"semver@npm:7.x, semver@npm:^7.0.0, semver@npm:^7.1.1, semver@npm:^7.3.4, semver@npm:^7.3.5, semver@npm:^7.3.7, semver@npm:^7.3.8, semver@npm:^7.5.3, semver@npm:^7.5.4, semver@npm:^7.6.3":
+  version: 7.8.5
+  resolution: "semver@npm:7.8.5"
   bin:
     semver: bin/semver.js
-  checksum: 10/296b17d027f57a87ef645e9c725bff4865a38dfc9caf29b26aa084b85820972fbe7372caea1ba6857162fa990702c6d9c1d82297cecb72d56c78ab29070d2ca2
+  checksum: 10/9b01d2ff11e6e4a4539b7ca3c5f280c8704cb397a28504469f2ed4f00ad2194748d756647362a9712fff30984d15772ab7f083108c2fb508e2096ae9e708f22c
   languageName: node
   linkType: hard
 
@@ -7565,23 +7579,23 @@ __metadata:
   languageName: node
   linkType: hard
 
-"typescript@npm:~5.0.4":
-  version: 5.0.4
-  resolution: "typescript@npm:5.0.4"
+"typescript@npm:~5.3.3":
+  version: 5.3.3
+  resolution: "typescript@npm:5.3.3"
   bin:
     tsc: bin/tsc
     tsserver: bin/tsserver
-  checksum: 10/e5c3adff09a138c0e27d13b5bb2b106ca17a162ffa945d66161669c265c65436309c5817358a2af1abb69d07440d358f8c1ed7cbb63a2c8680e19b9c268fe4ef
+  checksum: 10/6e4e6a14a50c222b3d14d4ea2f729e79f972fa536ac1522b91202a9a65af3605c2928c4a790a4a50aa13694d461c479ba92cedaeb1e7b190aadaa4e4b96b8e18
   languageName: node
   linkType: hard
 
-"typescript@patch:typescript@npm%3A~5.0.4#optional!builtin<compat/typescript>":
-  version: 5.0.4
-  resolution: "typescript@patch:typescript@npm%3A5.0.4#optional!builtin<compat/typescript>::version=5.0.4&hash=b5f058"
+"typescript@patch:typescript@npm%3A~5.3.3#optional!builtin<compat/typescript>":
+  version: 5.3.3
+  resolution: "typescript@patch:typescript@npm%3A5.3.3#optional!builtin<compat/typescript>::version=5.3.3&hash=e012d7"
   bin:
     tsc: bin/tsc
     tsserver: bin/tsserver
-  checksum: 10/b1b62606c7ec75efe9edc61e195d9e69f0440cac1bcd111dfa864f839255f0d9a7b79869f2823559c608826fc0c9894d2917ae4063e0aa06f5d0784a35170497
+  checksum: 10/c93786fcc9a70718ba1e3819bab56064ead5817004d1b8186f8ca66165f3a2d0100fee91fa64c840dcd45f994ca5d615d8e1f566d39a7470fc1e014dbb4cf15d
   languageName: node
   linkType: hard