diff --git a/contract/package.json b/contract/package.json
index f1e9405..5dbfa81 100644
--- a/contract/package.json
+++ b/contract/package.json
@@ -9,7 +9,7 @@
     "@nomiclabs/hardhat-etherscan": "^3.0.0",
     "@nomiclabs/hardhat-waffle": "^2.0.1",
     "@nomiclabs/hardhat-web3": "^2.0.0",
-    "@openzeppelin/contracts": "4.3.2",
+    "@openzeppelin/contracts": "4.7.1",
     "arb-ts": "^1.0.2",
     "chai": "^4.3.4",
     "dotenv": "^10.0.0",
diff --git a/contract/yarn.lock b/contract/yarn.lock
index 0b89cc3..2304b35 100644
--- a/contract/yarn.lock
+++ b/contract/yarn.lock
@@ -614,10 +614,10 @@
   dependencies:
     "@types/bignumber.js" "^5.0.0"
 
-"@openzeppelin/contracts@4.3.2":
-  version "4.3.2"
-  resolved "https://registry.npmjs.org/@openzeppelin/contracts/-/contracts-4.3.2.tgz"
-  integrity sha512-AybF1cesONZStg5kWf6ao9OlqTZuPqddvprc0ky7lrUVOjXeKpmQ2Y9FK+6ygxasb+4aic4O5pneFBfwVsRRRg==
+"@openzeppelin/contracts@4.7.1":
+  version "4.7.1"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.7.1.tgz#33d0a857b76b18d313e6bb6ed28cdaf367e90cfe"
+  integrity sha512-UXmAjKARsXORHlHZu5GCD7ZbRKm6nU8UHnbuT/QJJa2JEOEcbvV/X8w/sUk62Sl9VZuuljM1akrZLyAtzUgsxw==
 
 "@resolver-engine/core@^0.3.3":
   version "0.3.3"