diff --git a/codecov.yml b/codecov.yml
index 4de04af97..46d3b0996 100644
--- a/codecov.yml
+++ b/codecov.yml
@@ -1,17 +1,47 @@
 coverage:
   status:
-    project:
+    patch:
       default:
+        # basic
         target: auto
-        threshold: null
-        removed_code_behavior: adjust_base
-      celotool:
-        paths:
-          - packages/celotool
-      celocli:
-        paths:
-          - packages/cli
-      sdk:
-        paths:
-          - packages/sdk
-    patch: off
+        threshold: 0%
+        base: auto
+        only_pulls: true
+comment:
+  layout: 'header, diff, flags, components'
+
+ignore:
+  - "packages/typescript"
+  - "docs"
+  - ".github"
+  - ".changeset"
+
+component_management:
+  default_rules:
+    statuses:
+      - type: project
+        target: auto
+        branches:
+          - '!master'
+  individual_components:
+    - component_id: celocli
+      name: celocli
+      paths:
+        - packages/cli
+    - component_id: dev-utils
+      name: dev-utils
+      paths:
+        - packages/dev-utils
+    - component_id: sdks
+      name: sdk
+      paths:
+        - '!packages/sdk/wallets'
+        - packages/sdk/*
+    - component_id: wallets
+      name: wallets
+      paths:
+        - 'packages/sdk/wallets/*'
+    - component_id: viem-sdks
+      name: viem-sdks
+      paths:
+        - 'packages/viem-*
\ No newline at end of file
diff --git a/package.json b/package.json
index 395439354..aa67b9d5f 100644
--- a/package.json
+++ b/package.json
@@ -44,7 +44,7 @@
     "@types/semver": "7.3.8",
     "@typescript-eslint/eslint-plugin": "^6.17.0",
     "@typescript-eslint/parser": "^6.17.0",
-    "codecov": "^3.6.5",
+    "codecov": "^3.8.3",
     "colors": "1.4.0",
     "eslint": "^8.56.0",
     "eslint-config-prettier": "^9.1.0",
diff --git a/yarn.lock b/yarn.lock
index a8b0b00e8..2776b9796 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -8673,7 +8673,7 @@ __metadata:
     "@types/semver": "npm:7.3.8"
     "@typescript-eslint/eslint-plugin": "npm:^6.17.0"
     "@typescript-eslint/parser": "npm:^6.17.0"
-    codecov: "npm:^3.6.5"
+    codecov: "npm:^3.8.3"
     colors: "npm:1.4.0"
     eslint: "npm:^8.56.0"
     eslint-config-prettier: "npm:^9.1.0"
@@ -9090,7 +9090,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"codecov@npm:^3.6.5":
+"codecov@npm:^3.8.3":
   version: 3.8.3
   resolution: "codecov@npm:3.8.3"
   dependencies: