diff --git a/build.assets/Dockerfile b/build.assets/Dockerfile
index 5b83d45dc2aea..b1b9a87079e34 100644
--- a/build.assets/Dockerfile
+++ b/build.assets/Dockerfile
@@ -46,9 +46,9 @@ RUN git clone --depth=1 https://github.com/PJK/libcbor.git -b v0.10.2 && \
 
 # Install openssl.
 # install_sw install only binaries, skips docs.
-RUN git clone --depth=1 https://github.com/openssl/openssl.git -b openssl-3.0.15 && \
+RUN git clone --depth=1 https://github.com/openssl/openssl.git -b openssl-3.0.16 && \
     cd openssl && \
-    [ "$(git rev-parse HEAD)" = 'c523121f902fde2929909dc7f76b13ceb4961efe' ] && \
+    [ "$(git rev-parse HEAD)" = 'fa1e5dfb142bb1c26c3c38a10aafa7a095df52e5' ] && \
     ./config --release -fPIC --libdir=/usr/local/lib && \
     make -j"$(nproc)" && \
     make install_sw
diff --git a/build.assets/Dockerfile-centos7 b/build.assets/Dockerfile-centos7
index 69fabdb4c0fd6..c4a24e12f7e68 100644
--- a/build.assets/Dockerfile-centos7
+++ b/build.assets/Dockerfile-centos7
@@ -126,9 +126,9 @@ RUN git clone --depth=1 https://github.com/PJK/libcbor.git -b v0.10.2 && \
 # Specific install arguments used to skip docs.
 # Note that FIPS is enabled as part of this build, but it is unused without the
 # necessary configuration (which is included as part of the separate FIPS buildbox).
-RUN git clone --depth=1 https://github.com/openssl/openssl.git -b openssl-3.0.15 && \
+RUN git clone --depth=1 https://github.com/openssl/openssl.git -b openssl-3.0.16 && \
     cd openssl && \
-    [ "$(git rev-parse HEAD)" = 'c523121f902fde2929909dc7f76b13ceb4961efe' ] && \
+    [ "$(git rev-parse HEAD)" = 'fa1e5dfb142bb1c26c3c38a10aafa7a095df52e5' ] && \
     ./config enable-fips --release -fPIC --libdir=/usr/local/lib64 && \
     make -j"$(nproc)" && \
     make install_sw install_ssldirs install_fips
diff --git a/build.assets/build-fido2-macos.sh b/build.assets/build-fido2-macos.sh
index e5dfcb613928f..0f10bb6f0d60d 100755
--- a/build.assets/build-fido2-macos.sh
+++ b/build.assets/build-fido2-macos.sh
@@ -23,8 +23,8 @@ fi
 # Note: versions are the same as the corresponding git tags for each repo.
 readonly CBOR_VERSION=v0.10.2
 readonly CBOR_COMMIT=efa6c0886bae46bdaef9b679f61f4b9d8bc296ae
-readonly CRYPTO_VERSION=openssl-3.0.15
-readonly CRYPTO_COMMIT=c523121f902fde2929909dc7f76b13ceb4961efe
+readonly CRYPTO_VERSION=openssl-3.0.16
+readonly CRYPTO_COMMIT=fa1e5dfb142bb1c26c3c38a10aafa7a095df52e5
 readonly FIDO2_VERSION=1.14.0
 readonly FIDO2_COMMIT=1a9d335c8f0e821f9eff27482fdda96e59a4f577
 
diff --git a/build.assets/pkgconfig/buildbox/usr/local/lib/pkgconfig/libcrypto-static.pc b/build.assets/pkgconfig/buildbox/usr/local/lib/pkgconfig/libcrypto-static.pc
index f4c3f795ea1a0..94bfaae00d1b2 100644
--- a/build.assets/pkgconfig/buildbox/usr/local/lib/pkgconfig/libcrypto-static.pc
+++ b/build.assets/pkgconfig/buildbox/usr/local/lib/pkgconfig/libcrypto-static.pc
@@ -7,6 +7,6 @@ modulesdir=${libdir}/ossl-modules
 
 Name: OpenSSL-libcrypto
 Description: OpenSSL cryptography library
-Version: 3.0.15
+Version: 3.0.16
 Libs: ${libdir}/libcrypto.a -ldl -pthread
 Cflags: -I${includedir}
diff --git a/build.assets/pkgconfig/centos7/usr/local/lib64/pkgconfig/libcrypto-static.pc b/build.assets/pkgconfig/centos7/usr/local/lib64/pkgconfig/libcrypto-static.pc
index 2668bca3dc674..1b3f7e9fecf04 100644
--- a/build.assets/pkgconfig/centos7/usr/local/lib64/pkgconfig/libcrypto-static.pc
+++ b/build.assets/pkgconfig/centos7/usr/local/lib64/pkgconfig/libcrypto-static.pc
@@ -7,6 +7,6 @@ modulesdir=${libdir}/ossl-modules
 
 Name: OpenSSL-libcrypto
 Description: OpenSSL cryptography library
-Version: 3.0.15
+Version: 3.0.16
 Libs: ${libdir}/libcrypto.a -ldl -pthread
 Cflags: -I${includedir}