diff --git a/CHANGELOG.md b/CHANGELOG.md
index 41c31d738fa..2ed50813803 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -81,6 +81,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Bug Fixes
 
+* (makefile) [\#1785](https://github.com/cosmos/ibc-go/pull/1785) Fetch the correct versions of protocol buffers dependencies from tendermint, cosmos-sdk, and ics23.
 * (apps/29-fee) [\#1278](https://github.com/cosmos/ibc-go/pull/1278) The URI path for the query to get all incentivized packets for a specific channel did not follow the same format as the rest of queries.
 
 ## [v3.1.0](https://github.com/cosmos/ibc-go/releases/tag/v3.1.0) - 2022-04-16
diff --git a/Makefile b/Makefile
index eba4b5c2de2..c8a42e0e57b 100644
--- a/Makefile
+++ b/Makefile
@@ -407,10 +407,10 @@ proto-lint:
 proto-check-breaking:
 	@$(DOCKER_BUF) breaking --against $(HTTPS_GIT)#branch=main
 
-TM_URL              = https://raw.githubusercontent.com/tendermint/tendermint/v0.34.0-rc6/proto/tendermint
+TM_URL              = https://raw.githubusercontent.com/tendermint/tendermint/v0.34.19/proto/tendermint
 GOGO_PROTO_URL      = https://raw.githubusercontent.com/regen-network/protobuf/cosmos
 CONFIO_URL          = https://raw.githubusercontent.com/confio/ics23/v0.6.3
-SDK_PROTO_URL 		= https://raw.githubusercontent.com/cosmos/cosmos-sdk/v0.41.0/proto/cosmos
+SDK_PROTO_URL 	    = https://raw.githubusercontent.com/cosmos/cosmos-sdk/v0.45.6/proto/cosmos
 
 TM_CRYPTO_TYPES     = third_party/proto/tendermint/crypto
 TM_ABCI_TYPES       = third_party/proto/tendermint/abci