diff --git a/Cargo.lock b/Cargo.lock
index d44fbc0b47a..c009be3ab93 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5348,18 +5348,18 @@ dependencies = [
 
 [[package]]
 name = "serde"
-version = "1.0.197"
+version = "1.0.198"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3fb1c873e1b9b056a4dc4c0c198b24c3ffa059243875552b2bd0933b1aee4ce2"
+checksum = "9846a40c979031340571da2545a4e5b7c4163bdae79b301d5f86d03979451fcc"
 dependencies = [
  "serde_derive",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.197"
+version = "1.0.198"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7eb0b34b42edc17f6b7cac84a52a1c5f0e1bb2227e997ca9011ea3dd34e8610b"
+checksum = "e88edab869b01783ba905e7d0153f9fc1a6505a96e4ad3018011eedb838566d9"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/hole-punching-tests/Cargo.toml b/hole-punching-tests/Cargo.toml
index a4a17f3cfd0..e725d96912e 100644
--- a/hole-punching-tests/Cargo.toml
+++ b/hole-punching-tests/Cargo.toml
@@ -13,6 +13,6 @@ libp2p = { path = "../libp2p", features = ["tokio", "dcutr", "identify", "macros
 tracing = { workspace = true }
 redis = { version = "0.23.0", default-features = false, features = ["tokio-comp"] }
 tokio = { workspace = true, features = ["full"] }
-serde = { version = "1.0.197", features = ["derive"] }
+serde = { version = "1.0.198", features = ["derive"] }
 serde_json = "1.0.116"
 either = "1.11.0"
diff --git a/misc/keygen/Cargo.toml b/misc/keygen/Cargo.toml
index 8292414ea5a..5b1a2673588 100644
--- a/misc/keygen/Cargo.toml
+++ b/misc/keygen/Cargo.toml
@@ -15,7 +15,7 @@ release = false
 [dependencies]
 clap = { version = "4.5.4", features = ["derive"] }
 zeroize = "1"
-serde = { version = "1.0.197", features = ["derive"] }
+serde = { version = "1.0.198", features = ["derive"] }
 serde_json = "1.0.116"
 libp2p-core = { workspace = true }
 base64 = "0.22.0"
diff --git a/misc/server/Cargo.toml b/misc/server/Cargo.toml
index d744a2f9a08..f6d09103359 100644
--- a/misc/server/Cargo.toml
+++ b/misc/server/Cargo.toml
@@ -18,7 +18,7 @@ futures-timer = "3"
 axum = "0.7"
 libp2p = { workspace = true, features = ["autonat", "dns", "tokio", "noise", "tcp", "yamux", "identify", "kad", "ping", "relay", "metrics", "rsa", "macros", "quic", "websocket"] }
 prometheus-client = { workspace = true }
-serde = "1.0.197"
+serde = "1.0.198"
 serde_derive = "1.0.125"
 serde_json = "1.0"
 tokio = { workspace = true, features = ["rt-multi-thread", "macros"] }