diff --git a/deps/k_release b/deps/k_release
index 25b8aaf5a7..e85246a8e1 100644
--- a/deps/k_release
+++ b/deps/k_release
@@ -1 +1 @@
-7.1.121
+7.1.123
diff --git a/flake.lock b/flake.lock
index 5b44de1617..a9157bb299 100644
--- a/flake.lock
+++ b/flake.lock
@@ -370,16 +370,16 @@
         ]
       },
       "locked": {
-        "lastModified": 1724666348,
-        "narHash": "sha256-uYzqKlfWzfWwdzbdAZAKQ2KX/B4ngVoi+FhUN+c4EkM=",
+        "lastModified": 1724866053,
+        "narHash": "sha256-NtHMCcG5pRszS7+vSrwGDE8B3QoW7+JxbVYaxxwZ+Zw=",
         "owner": "runtimeverification",
         "repo": "k",
-        "rev": "894298664c0609ce775b2c26bc56674c21563f2c",
+        "rev": "85c8bcbea25dcef0945ed3ece01bdd8bb7a946a5",
         "type": "github"
       },
       "original": {
         "owner": "runtimeverification",
-        "ref": "v7.1.121",
+        "ref": "v7.1.123",
         "repo": "k",
         "type": "github"
       }
@@ -711,17 +711,17 @@
       },
       "locked": {
         "dir": "pyk",
-        "lastModified": 1724666348,
-        "narHash": "sha256-uYzqKlfWzfWwdzbdAZAKQ2KX/B4ngVoi+FhUN+c4EkM=",
+        "lastModified": 1724866053,
+        "narHash": "sha256-NtHMCcG5pRszS7+vSrwGDE8B3QoW7+JxbVYaxxwZ+Zw=",
         "owner": "runtimeverification",
         "repo": "k",
-        "rev": "894298664c0609ce775b2c26bc56674c21563f2c",
+        "rev": "85c8bcbea25dcef0945ed3ece01bdd8bb7a946a5",
         "type": "github"
       },
       "original": {
         "dir": "pyk",
         "owner": "runtimeverification",
-        "ref": "v7.1.121",
+        "ref": "v7.1.123",
         "repo": "k",
         "type": "github"
       }
diff --git a/flake.nix b/flake.nix
index 8955e1d5c4..8ba069ece3 100644
--- a/flake.nix
+++ b/flake.nix
@@ -2,11 +2,11 @@
   description = "A flake for the KEVM Semantics";
 
   inputs = {
-    k-framework.url = "github:runtimeverification/k/v7.1.121";
+    k-framework.url = "github:runtimeverification/k/v7.1.123";
     nixpkgs.follows = "k-framework/nixpkgs";
     flake-utils.follows = "k-framework/flake-utils";
     rv-utils.follows = "k-framework/rv-utils";
-    pyk.url = "github:runtimeverification/k/v7.1.121?dir=pyk";
+    pyk.url = "github:runtimeverification/k/v7.1.123?dir=pyk";
     nixpkgs-pyk.follows = "pyk/nixpkgs";
     poetry2nix.follows = "pyk/poetry2nix";
     blockchain-k-plugin = {
diff --git a/kevm-pyk/poetry.lock b/kevm-pyk/poetry.lock
index 48eedb601d..752586bcce 100644
--- a/kevm-pyk/poetry.lock
+++ b/kevm-pyk/poetry.lock
@@ -501,13 +501,13 @@ colors = ["colorama (>=0.4.6)"]
 
 [[package]]
 name = "kframework"
-version = "7.1.121"
+version = "7.1.123"
 description = ""
 optional = false
 python-versions = "<4.0,>=3.10"
 files = [
-    {file = "kframework-7.1.121-py3-none-any.whl", hash = "sha256:92796088daf5c5083b0daa6e5b22e633f68295c58e97830c2c0538a48ba08d0a"},
-    {file = "kframework-7.1.121.tar.gz", hash = "sha256:9ea14f197abcebf24b47b0cd4c5b95f0d0b824eba63741d1176c0a6c468a6847"},
+    {file = "kframework-7.1.123-py3-none-any.whl", hash = "sha256:b98081331a8f1d2902df61911726c3fb80b95f7da1d330102a58dd6bd3e5c83c"},
+    {file = "kframework-7.1.123.tar.gz", hash = "sha256:9174ac133734cfa0f899088f401073e4c160cc1b6b565947a474aaa89876fe0a"},
 ]
 
 [package.dependencies]
@@ -1186,4 +1186,4 @@ type = ["pytest-mypy"]
 [metadata]
 lock-version = "2.0"
 python-versions = "^3.10"
-content-hash = "c105f61818e5ff89a8893297e422e6d33bdad78833c0c4b669f51020e6b7f196"
+content-hash = "481ebb00ccaa537f0348f34d0ad0a2f217240290c0e30dd76b44a4f5f1e5757c"
diff --git a/kevm-pyk/pyproject.toml b/kevm-pyk/pyproject.toml
index ed94225d77..47e0b59ea0 100644
--- a/kevm-pyk/pyproject.toml
+++ b/kevm-pyk/pyproject.toml
@@ -13,7 +13,7 @@ authors = [
 [tool.poetry.dependencies]
 python = "^3.10"
 pathos = "*"
-kframework = "7.1.121"
+kframework = "7.1.123"
 tomlkit = "^0.11.6"
 
 [tool.poetry.group.dev.dependencies]