diff --git a/Cargo.lock b/Cargo.lock
index 7cfaf2d45a1..d0b2bbe17e3 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1922,7 +1922,7 @@ dependencies = [
  "stable-hash 0.3.4",
  "stable-hash 0.4.4",
  "strum_macros 0.27.1",
- "thiserror 1.0.61",
+ "thiserror 2.0.12",
  "tiny-keccak 1.5.0",
  "tokio",
  "tokio-retry",
@@ -1979,6 +1979,7 @@ dependencies = [
  "prost-types",
  "semver",
  "serde",
+ "thiserror 2.0.12",
  "tiny-keccak 1.5.0",
  "tonic-build",
 ]
@@ -2033,6 +2034,7 @@ dependencies = [
  "graph-chain-substreams",
  "graph-runtime-wasm",
  "serde_yaml",
+ "thiserror 2.0.12",
  "tower 0.5.2 (git+https://github.com/tower-rs/tower.git)",
  "tower-test",
  "wiremock",
@@ -2250,7 +2252,7 @@ dependencies = [
  "graph-store-postgres",
  "graphman-store",
  "itertools 0.13.0",
- "thiserror 1.0.61",
+ "thiserror 2.0.12",
  "tokio",
 ]
 
@@ -2274,7 +2276,7 @@ dependencies = [
  "serde_json",
  "slog",
  "test-store",
- "thiserror 1.0.61",
+ "thiserror 2.0.12",
  "tokio",
  "tower-http",
 ]
diff --git a/Cargo.toml b/Cargo.toml
index e65184ff0d4..8bd93bde851 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -84,7 +84,7 @@ sqlparser = "0.46.0"
 strum = { version = "0.26", features = ["derive"] }
 syn = { version = "2.0.101", features = ["full"] }
 test-store = { path = "./store/test-store" }
-thiserror = "1.0.25"
+thiserror = "2.0.12"
 tokio = { version = "1.44.2", features = ["full"] }
 tonic = { version = "0.12.3", features = ["tls-roots", "gzip"] }
 tonic-build = { version = "0.12.3", features = ["prost"] }
diff --git a/chain/ethereum/Cargo.toml b/chain/ethereum/Cargo.toml
index c72772aaa95..a4c417a6191 100644
--- a/chain/ethereum/Cargo.toml
+++ b/chain/ethereum/Cargo.toml
@@ -14,6 +14,7 @@ anyhow = "1.0"
 tiny-keccak = "1.5.0"
 hex = "0.4.3"
 semver = "1.0.23"
+thiserror = { workspace = true }
 
 itertools = "0.13.0"
 
diff --git a/core/Cargo.toml b/core/Cargo.toml
index 471af313dd8..419d06671a2 100644
--- a/core/Cargo.toml
+++ b/core/Cargo.toml
@@ -18,6 +18,7 @@ graph-runtime-wasm = { path = "../runtime/wasm" }
 serde_yaml = { workspace = true }
 # Switch to crates.io once tower 0.5 is released
 tower = { git = "https://github.com/tower-rs/tower.git", features = ["full"] }
+thiserror = { workspace = true }
 cid = "0.11.1"
 anyhow = "1.0"
 
diff --git a/graph/Cargo.toml b/graph/Cargo.toml
index 3ce112d4dd5..d2d46265f74 100644
--- a/graph/Cargo.toml
+++ b/graph/Cargo.toml
@@ -87,7 +87,7 @@ prost-types = { workspace = true }
 
 futures03 = { version = "0.3.1", package = "futures", features = ["compat"] }
 wasmparser = "0.118.1"
-thiserror = "1.0.25"
+thiserror = "2.0.12"
 parking_lot = "0.12.3"
 itertools = "0.13.0"
 defer = "0.2"
diff --git a/graph/src/components/store/err.rs b/graph/src/components/store/err.rs
index b8743658030..446b73408f1 100644
--- a/graph/src/components/store/err.rs
+++ b/graph/src/components/store/err.rs
@@ -59,9 +59,9 @@ pub enum StoreError {
     #[error("panic in subgraph writer: {0}")]
     WriterPanic(JoinError),
     #[error(
-        "found schema version {0} but this graph node only supports versions up to {}. \
+        "found schema version {0} but this graph node only supports versions up to {latest}. \
          Did you downgrade Graph Node?",
-        DeploymentSchemaVersion::LATEST
+        latest = DeploymentSchemaVersion::LATEST
     )]
     UnsupportedDeploymentSchemaVersion(i32),
     #[error("pruning failed: {0}")]