diff --git a/go.mod b/go.mod
index 5e494248..06f59d92 100644
--- a/go.mod
+++ b/go.mod
@@ -23,7 +23,7 @@ require (
 	github.com/gorilla/mux v1.8.0
 	github.com/grpc-ecosystem/grpc-gateway v1.16.0
 	// we also need to update `LIBINITIAVM_VERSION` of images/private/Dockerfile#5
-	github.com/initia-labs/initiavm v0.1.1-beta.7
+	github.com/initia-labs/initiavm v0.1.2-beta.0
 	github.com/novifinancial/serde-reflection/serde-generate/runtime/golang v0.0.0-20220519162058-e5cd3c3b3f3a
 	github.com/pelletier/go-toml v1.9.5
 	github.com/pkg/errors v0.9.1
diff --git a/go.sum b/go.sum
index 7d849506..96d983cf 100644
--- a/go.sum
+++ b/go.sum
@@ -779,8 +779,8 @@ github.com/influxdata/promql/v2 v2.12.0/go.mod h1:fxOPu+DY0bqCTCECchSRtWfc+0X19y
 github.com/influxdata/roaring v0.4.13-0.20180809181101-fc520f41fab6/go.mod h1:bSgUQ7q5ZLSO+bKBGqJiCBGAl+9DxyW63zLTujjUlOE=
 github.com/influxdata/tdigest v0.0.0-20181121200506-bf2b5ad3c0a9/go.mod h1:Js0mqiSBE6Ffsg94weZZ2c+v/ciT8QRHFOap7EKDrR0=
 github.com/influxdata/usage-client v0.0.0-20160829180054-6d3895376368/go.mod h1:Wbbw6tYNvwa5dlB6304Sd+82Z3f7PmVZHVKU637d4po=
-github.com/initia-labs/initiavm v0.1.1-beta.7 h1:4M4d4Jbh+iQREUovxtIm2AvxxlJ/5CPpGDjBxnexwoA=
-github.com/initia-labs/initiavm v0.1.1-beta.7/go.mod h1:aQt4lImZWF9xj7Fm978n0IoeDdKWXTg1CSq6O4WoSD8=
+github.com/initia-labs/initiavm v0.1.2-beta.0 h1:XqT+kikWmZmL/ly2wy360RIuJXC+CICNpNj/WMJtOxU=
+github.com/initia-labs/initiavm v0.1.2-beta.0/go.mod h1:aQt4lImZWF9xj7Fm978n0IoeDdKWXTg1CSq6O4WoSD8=
 github.com/jackpal/go-nat-pmp v1.0.2/go.mod h1:QPH045xvCAeXUZOxsnwmrtiCoxIr9eob+4orBN1SBKc=
 github.com/jedisct1/go-minisign v0.0.0-20190909160543-45766022959e/go.mod h1:G1CVv03EnqU1wYL2dFwXxW2An0az9JTl/ZsqXQeBlkU=
 github.com/jessevdk/go-flags v0.0.0-20141203071132-1679536dcc89/go.mod h1:4FA24M0QyGHXBuZZK/XkWh8h0e1EYbRYJSGM75WSRxI=
diff --git a/images/private/Dockerfile b/images/private/Dockerfile
index 7ea2a478..7bcba925 100644
--- a/images/private/Dockerfile
+++ b/images/private/Dockerfile
@@ -2,7 +2,7 @@ FROM golang:1.19.1-alpine3.16 AS go-builder
 #ARG arch=x86_64
 
 # See https://github.com/initia-labs/initiavm/releases
-ARG LIBINITIAVM_VERSION=v0.1.1-beta.7
+ARG LIBINITIAVM_VERSION=v0.1.2-beta.0
 
 # this comes from standard alpine nightly file
 #  https://github.com/rust-lang/docker-rust-nightly/blob/master/alpine3.12/Dockerfile