diff --git a/.pnp.js b/.pnp.js
index 9192d10ab4..a9e1a9a8e1 100755
--- a/.pnp.js
+++ b/.pnp.js
@@ -912,7 +912,7 @@ function $$SETUP_STATE(hydrateRuntimeState, basePath) {
       ],
       [
         "chalk",
-        "npm:2.4.2"
+        "npm:4.1.2"
       ],
       [
         "chokidar",
@@ -3275,7 +3275,7 @@ function $$SETUP_STATE(hydrateRuntimeState, basePath) {
             ["@typescript-eslint/parser", "virtual:4f1584ad4aba8733a24be7c8aebbffafef25607f2d00f4b314cf96717145c692763628a31c2b85d4686fbb091ff21ebffa3cc337399c042c19a32b9bdb786464#npm:4.28.4"],
             ["axios", "npm:0.21.4"],
             ["babylon", "npm:6.18.0"],
-            ["colors", "npm:1.4.0"],
+            ["chalk", "npm:4.1.2"],
             ["cosmjs-types", "npm:0.2.1"],
             ["diff", "npm:4.0.2"],
             ["eslint", "npm:7.26.0"],
@@ -6627,10 +6627,10 @@ function $$SETUP_STATE(hydrateRuntimeState, basePath) {
           ],
           "linkType": "HARD",
         }],
-        ["npm:4.1.1", {
-          "packageLocation": "./.yarn/cache/chalk-npm-4.1.1-f1ce6bae57-445c12db7a.zip/node_modules/chalk/",
+        ["npm:4.1.2", {
+          "packageLocation": "./.yarn/cache/chalk-npm-4.1.2-ba8b67ab80-e3901b97d9.zip/node_modules/chalk/",
           "packageDependencies": [
-            ["chalk", "npm:4.1.1"],
+            ["chalk", "npm:4.1.2"],
             ["ansi-styles", "npm:4.3.0"],
             ["supports-color", "npm:7.2.0"]
           ],
@@ -7567,7 +7567,7 @@ function $$SETUP_STATE(hydrateRuntimeState, basePath) {
             ["@babel/code-frame", "npm:7.12.11"],
             ["@eslint/eslintrc", "npm:0.4.1"],
             ["ajv", "npm:6.12.6"],
-            ["chalk", "npm:4.1.1"],
+            ["chalk", "npm:4.1.2"],
             ["cross-spawn", "npm:7.0.3"],
             ["debug", "virtual:84aaab4674f4a44ff521c5f62bd452551ef7a2f3aa4df9a02b089f10fb2f0645a919a4bf72c9eb29c0c6447c3e3d72115cf19f79d920f85a14d3f7e8c3fbb38d#npm:4.3.2"],
             ["doctrine", "npm:3.0.0"],
diff --git a/.yarn/cache/chalk-npm-4.1.1-f1ce6bae57-445c12db7a.zip b/.yarn/cache/chalk-npm-4.1.1-f1ce6bae57-445c12db7a.zip
deleted file mode 100644
index 4b11d106af..0000000000
--- a/.yarn/cache/chalk-npm-4.1.1-f1ce6bae57-445c12db7a.zip
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:c67e667090c8f118b97ab5e208e25d3b7edbc011e9ae6a181889db0be6ac293b
-size 13703
diff --git a/.yarn/cache/chalk-npm-4.1.2-ba8b67ab80-e3901b97d9.zip b/.yarn/cache/chalk-npm-4.1.2-ba8b67ab80-e3901b97d9.zip
new file mode 100644
index 0000000000..d7a3d8b8f2
--- /dev/null
+++ b/.yarn/cache/chalk-npm-4.1.2-ba8b67ab80-e3901b97d9.zip
@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:e696d12a661e7b10df03aded4e784df66e5e76b58e68aab43138e42a34eb8852
+size 13756
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6016f65239..c332e1d449 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,13 @@ and this project adheres to
 
 ## [Unreleased]
 
+## [0.26.6] - 2022-01-10
+
+### Changed
+
+- @cosmjs/cli: Replace `colors` dependency with `chalk` (see
+  https://snyk.io/blog/open-source-npm-packages-colors-faker/)
+
 ## [0.26.5] - 2021-11-20
 
 ### Added
diff --git a/packages/cli/package.json b/packages/cli/package.json
index 9a38b63c45..e803623438 100644
--- a/packages/cli/package.json
+++ b/packages/cli/package.json
@@ -53,7 +53,7 @@
     "@cosmjs/utils": "workspace:packages/utils",
     "axios": "^0.21.2",
     "babylon": "^6.18.0",
-    "colors": "^1.3.3",
+    "chalk": "^4",
     "cosmjs-types": "^0.2.0",
     "diff": "^4",
     "recast": "^0.20",
diff --git a/packages/cli/src/cli.ts b/packages/cli/src/cli.ts
index 62d0799514..c247f31907 100644
--- a/packages/cli/src/cli.ts
+++ b/packages/cli/src/cli.ts
@@ -1,12 +1,11 @@
 import axios from "axios";
+import chalk from "chalk";
 import * as fs from "fs";
 import { join } from "path";
 import yargs from "yargs";
 
 import { TsRepl } from "./tsrepl";
 
-import colors = require("colors/safe");
-
 export async function installedPackages(): Promise<string[]> {
   return new Promise((resolve, reject) => {
     fs.readFile(__dirname + "/../package.json", { encoding: "utf8" }, (error, data) => {
@@ -49,12 +48,12 @@ export async function main(originalArgs: readonly string[]): Promise<void> {
     .group(["debug", "selftest"], "Maintainer options")
     .parse(originalArgs);
 
-  console.info(colors.green("Initializing session for you. Have fun!"));
+  console.info(chalk.green("Initializing session for you. Have fun!"));
   const visiblePackages = (await installedPackages()).filter(
     (name) => name.startsWith("@cosmjs/") || name === "axios",
   );
-  console.info(colors.yellow("The following packages have been installed and can be imported:"));
-  console.info(colors.yellow(visiblePackages.join(", ")));
+  console.info(chalk.yellow("The following packages have been installed and can be imported:"));
+  console.info(chalk.yellow(visiblePackages.join(", ")));
 
   let init = "";
   if (args.selftest) {
diff --git a/yarn.lock b/yarn.lock
index f5ba6c2496..28529bc1a1 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -366,7 +366,7 @@ __metadata:
     "@typescript-eslint/parser": ^4.28
     axios: ^0.21.2
     babylon: ^6.18.0
-    colors: ^1.3.3
+    chalk: ^4
     cosmjs-types: ^0.2.0
     diff: ^4
     eslint: ^7.5
@@ -2692,13 +2692,13 @@ __metadata:
   languageName: node
   linkType: hard
 
-"chalk@npm:^4.0.0":
-  version: 4.1.1
-  resolution: "chalk@npm:4.1.1"
+"chalk@npm:^4, chalk@npm:^4.0.0":
+  version: 4.1.2
+  resolution: "chalk@npm:4.1.2"
   dependencies:
     ansi-styles: ^4.1.0
     supports-color: ^7.1.0
-  checksum: 445c12db7aeed0046500a1e4184d31209a77d165654c885a789c41c8598a6a95bd2392180987cac572c967b93a2a730dda778bb7f87fa06ca63fd8592f8cc59f
+  checksum: e3901b97d953991712bf0b941d586175be7ca5da56a97d25187e07453c6b26cae0ac8d9c7aa9e87e7c5c986fff870771b3a8e2705b3becda868829e2e12c2a65
   languageName: node
   linkType: hard
 
@@ -2857,7 +2857,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"colors@npm:1.4.0, colors@npm:^1.3.3, colors@npm:^1.4.0":
+"colors@npm:1.4.0, colors@npm:^1.4.0":
   version: 1.4.0
   resolution: "colors@npm:1.4.0"
   checksum: a0f266ac041a9774d92cc9624a984707678d2eeec125d54e8d8231075ce36c24c5352fb5d0f90c6ee420d0f63e354417cec716386ad341309334aad18e32b933