diff --git a/ballerina-tests/Dependencies.toml b/ballerina-tests/Dependencies.toml
index 6fad088b1c..d3e6cc3157 100644
--- a/ballerina-tests/Dependencies.toml
+++ b/ballerina-tests/Dependencies.toml
@@ -50,7 +50,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "crypto"
-version = "2.3.0"
+version = "2.3.2"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"},
@@ -384,7 +384,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "task"
-version = "2.3.0"
+version = "2.3.2"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"},
@@ -406,7 +406,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "time"
-version = "2.2.3"
+version = "2.2.5"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
@@ -418,7 +418,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "url"
-version = "2.2.3"
+version = "2.2.4"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
diff --git a/ballerina-tests/tests/http2_mutual_ssl_test.bal b/ballerina-tests/tests/http2_mutual_ssl_test.bal
index a2ca2dafc1..39737a3f66 100644
--- a/ballerina-tests/tests/http2_mutual_ssl_test.bal
+++ b/ballerina-tests/tests/http2_mutual_ssl_test.bal
@@ -158,7 +158,8 @@ public function testHttp2MutualSsl4() returns error? {
     // Without keys - negative test
     http:Client httpClient = check new("https://localhost:9204", http2MutualSslClientConf4);
     http:Response|error resp = httpClient->get("/http2Service/");
-    string expectedErrMsg = "SSL connection failed:javax.net.ssl.SSLHandshakeException: error:10000410:SSL routines:OPENSSL_internal:SSLV3_ALERT_HANDSHAKE_FAILURE localhost/127.0.0.1:9204";
+    string expectedErrMsg = "SSL connection failed:io.netty.handler.ssl.ReferenceCountedOpenSslEngine$OpenSslHandshakeException"
+                                + ": error:10000410:SSL routines:OPENSSL_internal:SSLV3_ALERT_HANDSHAKE_FAILURE localhost/127.0.0.1:9204";
     if resp is error {
         test:assertEquals(resp.message(), expectedErrMsg);
     } else {
diff --git a/ballerina/Ballerina.toml b/ballerina/Ballerina.toml
index f1ea648cae..06457d7855 100644
--- a/ballerina/Ballerina.toml
+++ b/ballerina/Ballerina.toml
@@ -30,56 +30,56 @@ path = "./lib/constraint-native-1.0.1.jar"
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-common"
-version = "4.1.86.Final"
-path = "./lib/netty-common-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-common-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-buffer"
-version = "4.1.86.Final"
-path = "./lib/netty-buffer-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-buffer-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-transport"
-version = "4.1.86.Final"
-path = "./lib/netty-transport-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-transport-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-resolver"
-version = "4.1.86.Final"
-path = "./lib/netty-resolver-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-resolver-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-handler"
-version = "4.1.86.Final"
-path = "./lib/netty-handler-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-handler-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-codec-http"
-version = "4.1.86.Final"
-path = "./lib/netty-codec-http-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-codec-http-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-codec"
-version = "4.1.86.Final"
-path = "./lib/netty-codec-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-codec-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-handler-proxy"
-version = "4.1.86.Final"
-path = "./lib/netty-handler-proxy-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-handler-proxy-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-codec-http2"
-version = "4.1.86.Final"
-path = "./lib/netty-codec-http2-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-codec-http2-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "commons-pool.wso2"
@@ -90,47 +90,47 @@ path = "./lib/commons-pool-1.5.6.wso2v1.jar"
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-transport-native-unix-common"
-version = "4.1.86.Final"
-path = "./lib/netty-transport-native-unix-common-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-transport-native-unix-common-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "org.bouncycastle"
-artifactId = "bcprov-jdk15on"
-version = "1.69"
-path = "./lib/bcprov-jdk15on-1.69.jar"
+artifactId = "bcprov-jdk18on"
+version = "1.74"
+path = "./lib/bcprov-jdk18on-1.74.jar"
 
 [[platform.java11.dependency]]
 groupId = "org.bouncycastle"
-artifactId = "bcpkix-jdk15on"
-version = "1.69"
-path = "./lib/bcpkix-jdk15on-1.69.jar"
+artifactId = "bcpkix-jdk18on"
+version = "1.74"
+path = "./lib/bcpkix-jdk18on-1.74.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-tcnative-boringssl-static"
-version = "2.0.54.Final"
-path = "./lib/netty-tcnative-boringssl-static-2.0.54.Final.jar"
+version = "2.0.62.Final"
+path = "./lib/netty-tcnative-boringssl-static-2.0.62.Final.jar"
 
 [[platform.java11.dependency]]
-path = "./lib/netty-tcnative-boringssl-static-2.0.54.Final-windows-x86_64.jar"
+path = "./lib/netty-tcnative-boringssl-static-2.0.62.Final-windows-x86_64.jar"
 
 [[platform.java11.dependency]]
-path = "./lib/netty-tcnative-boringssl-static-2.0.54.Final-linux-aarch_64.jar"
+path = "./lib/netty-tcnative-boringssl-static-2.0.62.Final-linux-aarch_64.jar"
 
 [[platform.java11.dependency]]
-path = "./lib/netty-tcnative-boringssl-static-2.0.54.Final-linux-x86_64.jar"
+path = "./lib/netty-tcnative-boringssl-static-2.0.62.Final-linux-x86_64.jar"
 
 [[platform.java11.dependency]]
-path = "./lib/netty-tcnative-boringssl-static-2.0.54.Final-osx-aarch_64.jar"
+path = "./lib/netty-tcnative-boringssl-static-2.0.62.Final-osx-aarch_64.jar"
 
 [[platform.java11.dependency]]
-path = "./lib/netty-tcnative-boringssl-static-2.0.54.Final-osx-x86_64.jar"
+path = "./lib/netty-tcnative-boringssl-static-2.0.62.Final-osx-x86_64.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-tcnative-classes"
-version = "2.0.54.Final"
-path = "./lib/netty-tcnative-classes-2.0.54.Final.jar"
+version = "2.0.62.Final"
+path = "./lib/netty-tcnative-classes-2.0.62.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "org.jvnet.mimepull"
@@ -141,8 +141,8 @@ path = "./lib/mimepull-1.9.11.jar"
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-codec-socks"
-version = "4.1.86.Final"
-path = "./lib/netty-codec-socks-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-codec-socks-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "org.jboss.marshalling"
diff --git a/ballerina/Dependencies.toml b/ballerina/Dependencies.toml
index bec9b9145b..51dd44eaa1 100644
--- a/ballerina/Dependencies.toml
+++ b/ballerina/Dependencies.toml
@@ -39,7 +39,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "constraint"
-version = "1.0.2"
+version = "1.0.1"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
 ]
@@ -50,7 +50,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "crypto"
-version = "2.3.0"
+version = "2.3.2"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"},
 	{org = "ballerina", name = "time"}
@@ -237,7 +237,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "log"
-version = "2.5.1"
+version = "2.5.0"
 dependencies = [
 	{org = "ballerina", name = "io"},
 	{org = "ballerina", name = "jballerina.java"},
@@ -279,7 +279,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "observe"
-version = "1.0.6"
+version = "1.0.5"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
 ]
@@ -300,7 +300,7 @@ dependencies = [
 [[package]]
 org = "ballerina"
 name = "regex"
-version = "1.3.2"
+version = "1.3.1"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"},
 	{org = "ballerina", name = "lang.string"}
@@ -312,7 +312,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "task"
-version = "2.3.0"
+version = "2.3.2"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"},
 	{org = "ballerina", name = "time"}
@@ -321,7 +321,7 @@ dependencies = [
 [[package]]
 org = "ballerina"
 name = "time"
-version = "2.2.3"
+version = "2.2.5"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
 ]
@@ -332,7 +332,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "url"
-version = "2.2.3"
+version = "2.2.4"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
 ]
diff --git a/ballerina/build.gradle b/ballerina/build.gradle
index e286921e59..dc0291daa3 100644
--- a/ballerina/build.gradle
+++ b/ballerina/build.gradle
@@ -110,10 +110,10 @@ dependencies {
     externalJars(group: 'commons-pool.wso2', name: 'commons-pool', version: "${wso2CommonsPoolVersion}") {
         transitive = false
     }
-    externalJars(group: 'org.bouncycastle', name: 'bcprov-jdk15on', version: "${bouncycastleVersion}") {
+    externalJars(group: 'org.bouncycastle', name: 'bcprov-jdk18on', version: "${bouncycastleVersion}") {
         transitive = false
     }
-    externalJars(group: 'org.bouncycastle', name: 'bcpkix-jdk15on', version: "${bouncycastleVersion}") {
+    externalJars(group: 'org.bouncycastle', name: 'bcpkix-jdk18on', version: "${bouncycastleVersion}") {
         transitive = false
     }
     externalJars(group: 'io.netty', name: 'netty-tcnative-boringssl-static', version: "${nettyTcnativeVersion}") {
diff --git a/build-config/resources/Ballerina.toml b/build-config/resources/Ballerina.toml
index 5b73954767..387575af13 100644
--- a/build-config/resources/Ballerina.toml
+++ b/build-config/resources/Ballerina.toml
@@ -95,15 +95,15 @@ path = "./lib/netty-transport-native-unix-common-@netty.version@.jar"
 
 [[platform.java11.dependency]]
 groupId = "org.bouncycastle"
-artifactId = "bcprov-jdk15on"
+artifactId = "bcprov-jdk18on"
 version = "@bouncycastle.version@"
-path = "./lib/bcprov-jdk15on-@bouncycastle.version@.jar"
+path = "./lib/bcprov-jdk18on-@bouncycastle.version@.jar"
 
 [[platform.java11.dependency]]
 groupId = "org.bouncycastle"
-artifactId = "bcpkix-jdk15on"
+artifactId = "bcpkix-jdk18on"
 version = "@bouncycastle.version@"
-path = "./lib/bcpkix-jdk15on-@bouncycastle.version@.jar"
+path = "./lib/bcpkix-jdk18on-@bouncycastle.version@.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
diff --git a/gradle.properties b/gradle.properties
index e9917cf3c5..68380cee5b 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -4,9 +4,9 @@ version=2.5.4-SNAPSHOT
 ballerinaLangVersion=2201.3.0
 ballerinaTomlParserVersion=1.2.2
 commonsLang3Version=3.8.1
-nettyVersion=4.1.86.Final
-nettyTcnativeVersion=2.0.54.Final
-bouncycastleVersion=1.69
+nettyVersion=4.1.100.Final
+nettyTcnativeVersion=2.0.62.Final
+bouncycastleVersion=1.74
 slf4jVersion=1.7.30
 jakartaXmlBindVersion=2.3.3
 wso2CommonsPoolVersion=1.5.6.wso2v1
diff --git a/native/build.gradle b/native/build.gradle
index 763fd78c09..205e098ba4 100644
--- a/native/build.gradle
+++ b/native/build.gradle
@@ -61,8 +61,8 @@ dependencies {
 
     implementation group: 'org.wso2.eclipse.osgi', name: 'org.eclipse.osgi', version:"${wso2EclipseOsgiVersion}"
     implementation group: 'commons-pool.wso2', name: 'commons-pool', version:"${wso2CommonsPoolVersion}"
-    implementation group: 'org.bouncycastle', name: 'bcprov-jdk15on', version: "${bouncycastleVersion}"
-    implementation group: 'org.bouncycastle', name: 'bcpkix-jdk15on', version: "${bouncycastleVersion}"
+    implementation group: 'org.bouncycastle', name: 'bcprov-jdk18on', version: "${bouncycastleVersion}"
+    implementation group: 'org.bouncycastle', name: 'bcpkix-jdk18on', version: "${bouncycastleVersion}"
     implementation group: 'jakarta.xml.bind', name: 'jakarta.xml.bind-api', version: "${jakartaXmlBindVersion}"
 
     testImplementation group: 'org.mock-server', name: 'mockserver-netty', version:"${mockserverNettyVersion}"