diff --git a/Cargo.lock b/Cargo.lock
index fdaf1e5e..a0885f63 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -971,7 +971,7 @@ dependencies = [
  "serde_derive",
  "serde_json",
  "thiserror",
- "time 0.3.30",
+ "time 0.3.31",
  "tokio",
  "tracing",
  "tracing-subscriber",
@@ -1622,9 +1622,9 @@ dependencies = [
 
 [[package]]
 name = "time"
-version = "0.3.30"
+version = "0.3.31"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c4a34ab300f2dee6e562c10a046fc05e358b29f9bf92277f30c3c8d82275f6f5"
+checksum = "f657ba42c3f86e7680e53c8cd3af8abbe56b5491790b46e22e19c0d57463583e"
 dependencies = [
  "deranged",
  "itoa",
@@ -1642,9 +1642,9 @@ checksum = "ef927ca75afb808a4d64dd374f00a2adf8d0fcff8e7b184af886c3c87ec4a3f3"
 
 [[package]]
 name = "time-macros"
-version = "0.2.15"
+version = "0.2.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4ad70d68dba9e1f8aceda7aa6711965dfec1cac869f311a51bd08b3a2ccbce20"
+checksum = "26197e33420244aeb70c3e8c78376ca46571bc4e701e4791c2cd9f57dcb3a43f"
 dependencies = [
  "time-core",
 ]
@@ -1775,7 +1775,7 @@ dependencies = [
  "sharded-slab",
  "smallvec",
  "thread_local",
- "time 0.3.30",
+ "time 0.3.31",
  "tracing",
  "tracing-core",
  "tracing-log",
diff --git a/raiden/Cargo.toml b/raiden/Cargo.toml
index cdbc8c40..c36855a5 100644
--- a/raiden/Cargo.toml
+++ b/raiden/Cargo.toml
@@ -34,7 +34,7 @@ uuid = { version = "^1.4.1", features = ["v4"] }
 [dev-dependencies]
 pretty_assertions = "1.4.0"
 raiden = { path = "./", features = ["tracing"], default_features = false }
-time = "0.3.30"
+time = "0.3.31"
 tokio = "1.34.0"
 tracing-subscriber = { version = "0.3.17", features = ["env-filter", "time"] }