diff --git a/Cargo.lock b/Cargo.lock
index 28fed244b9..f31070368f 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -862,9 +862,9 @@ dependencies = [
 
 [[package]]
 name = "clap"
-version = "4.5.4"
+version = "4.5.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "90bc066a67923782aa8515dbaea16946c5bcc5addbd668bb80af688e53e548a0"
+checksum = "a9689a29b593160de5bc4aacab7b5d54fb52231de70122626c178e6a368994c7"
 dependencies = [
  "clap_builder",
  "clap_derive",
@@ -872,9 +872,9 @@ dependencies = [
 
 [[package]]
 name = "clap_builder"
-version = "4.5.2"
+version = "4.5.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ae129e2e766ae0ec03484e609954119f123cc1fe650337e155d03b022f24f7b4"
+checksum = "2e5387378c84f6faa26890ebf9f0a92989f8873d4d380467bcd0d8d8620424df"
 dependencies = [
  "anstream",
  "anstyle",
@@ -884,9 +884,9 @@ dependencies = [
 
 [[package]]
 name = "clap_derive"
-version = "4.5.4"
+version = "4.5.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "528131438037fd55894f62d6e9f068b8f45ac57ffa77517819645d10aed04f64"
+checksum = "c780290ccf4fb26629baa7a1081e68ced113f1d3ec302fa5948f1c381ebf06c6"
 dependencies = [
  "heck 0.5.0",
  "proc-macro2",
@@ -5405,9 +5405,9 @@ dependencies = [
 
 [[package]]
 name = "proc-macro2"
-version = "1.0.84"
+version = "1.0.85"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ec96c6a92621310b51366f1e28d05ef11489516e93be030060e5fc12024a49d6"
+checksum = "22244ce15aa966053a896d1accb3a6e68469b97c7f33f284b99f0d576879fc23"
 dependencies = [
  "unicode-ident",
 ]
@@ -6497,11 +6497,11 @@ checksum = "5ee073c9e4cd00e28217186dbe12796d692868f432bf2e97ee73bed0c56dfa01"
 
 [[package]]
 name = "strum_macros"
-version = "0.26.2"
+version = "0.26.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c6cf59daf282c0a494ba14fd21610a0325f9f90ec9d1231dea26bcb1d696c946"
+checksum = "4c6bee85a5a24955dc440386795aa378cd9cf82acd5f764469152d2270e581be"
 dependencies = [
- "heck 0.4.1",
+ "heck 0.5.0",
  "proc-macro2",
  "quote",
  "rustversion",
@@ -6692,9 +6692,9 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokio"
-version = "1.37.0"
+version = "1.38.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1adbebffeca75fcfd058afa480fb6c0b81e165a0323f9c9d39c9697e37c46787"
+checksum = "ba4f4a02a7a80d6f274636f0aa95c7e383b912d41fe721a31f29e29698585a4a"
 dependencies = [
  "backtrace",
  "bytes",
@@ -6721,9 +6721,9 @@ dependencies = [
 
 [[package]]
 name = "tokio-macros"
-version = "2.2.0"
+version = "2.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5b8a1e28f2deaa14e508979454cb3a223b10b938b45af148bc0986de36f1923b"
+checksum = "5f5ae998a069d4b5aba8ee9dad856af7d520c3699e6159b185c2acd48155d39a"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -6801,9 +6801,9 @@ dependencies = [
 
 [[package]]
 name = "toml"
-version = "0.8.13"
+version = "0.8.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a4e43f8cc456c9704c851ae29c67e17ef65d2c30017c17a9765b89c382dc8bba"
+checksum = "6f49eb2ab21d2f26bd6db7bf383edc527a7ebaee412d17af4d40fdccd442f335"
 dependencies = [
  "serde",
  "serde_spanned",
@@ -6822,9 +6822,9 @@ dependencies = [
 
 [[package]]
 name = "toml_edit"
-version = "0.22.13"
+version = "0.22.14"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c127785850e8c20836d49732ae6abfa47616e60bf9d9f57c43c250361a9db96c"
+checksum = "f21c7aaf97f1bd9ca9d4f9e73b0a6c74bd5afef56f2bc931943a6e1c37e04e38"
 dependencies = [
  "indexmap 2.2.1",
  "serde",
diff --git a/blockchain/Cargo.toml b/blockchain/Cargo.toml
index 60148feb8b..6fcefd34c0 100644
--- a/blockchain/Cargo.toml
+++ b/blockchain/Cargo.toml
@@ -28,7 +28,7 @@ prometheus-client = { version = "0.22.2", optional = true }
 rand = "0.8"
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["sync"] }
+tokio = { version = "1.38", features = ["sync"] }
 tokio-stream = { version = "0.1", features = ["sync"] }
 
 nimiq-account = { workspace = true, features = ["accounts"] }
diff --git a/client/Cargo.toml b/client/Cargo.toml
index e1171ba2b0..9e1baf636f 100644
--- a/client/Cargo.toml
+++ b/client/Cargo.toml
@@ -23,7 +23,7 @@ workspace = true
 [dependencies]
 futures = { workspace = true }
 log = { workspace = true }
-tokio = { version = "1.37", features = ["macros", "rt-multi-thread", "time", "tracing"] }
+tokio = { version = "1.38", features = ["macros", "rt-multi-thread", "time", "tracing"] }
 tokio-metrics = "0.3"
 
 [dependencies.nimiq]
diff --git a/consensus/Cargo.toml b/consensus/Cargo.toml
index 9c17e2a366..ae625b01da 100644
--- a/consensus/Cargo.toml
+++ b/consensus/Cargo.toml
@@ -30,7 +30,7 @@ pin-project = "1.1"
 rand = "0.8"
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["rt", "sync", "time"] }
+tokio = { version = "1.38", features = ["rt", "sync", "time"] }
 tokio-stream = { version = "0.1", features = ["sync"] }
 
 nimiq-account = { workspace = true, default-features = false }
diff --git a/handel/Cargo.toml b/handel/Cargo.toml
index 21c88f4250..b10f9601ad 100644
--- a/handel/Cargo.toml
+++ b/handel/Cargo.toml
@@ -22,7 +22,7 @@ parking_lot = "0.12"
 rand = "0.8"
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["rt", "time"] }
+tokio = { version = "1.38", features = ["rt", "time"] }
 tokio-stream = "0.1"
 
 nimiq-bls = { workspace = true }
@@ -37,5 +37,5 @@ nimiq-network-interface = { workspace = true }
 nimiq-network-mock = { workspace = true }
 nimiq-test-log = { workspace = true }
 
-tokio = { version = "1.37", features = ["rt", "time", "macros"] }
+tokio = { version = "1.38", features = ["rt", "time", "macros"] }
 nimiq-utils = { workspace = true, features = ["math"] }
diff --git a/lib/Cargo.toml b/lib/Cargo.toml
index 493801680d..6035899fbc 100644
--- a/lib/Cargo.toml
+++ b/lib/Cargo.toml
@@ -39,7 +39,7 @@ strum_macros = "0.26"
 subtle = "2.5"
 thiserror = "1.0"
 time = { version = "0.3", optional = true }
-tokio = { version = "1.37", features = ["rt"], optional = true }
+tokio = { version = "1.38", features = ["rt"], optional = true }
 toml = "0.8"
 tracing-loki = { version = "0.2.4", optional = true }
 tracing-subscriber = { version = "0.3", optional = true, features = ["env-filter", "std"] }
diff --git a/light-blockchain/Cargo.toml b/light-blockchain/Cargo.toml
index 45d858f1fa..46e53b6f1d 100644
--- a/light-blockchain/Cargo.toml
+++ b/light-blockchain/Cargo.toml
@@ -18,7 +18,7 @@ futures = { workspace = true }
 log = { workspace = true }
 parking_lot = "0.12"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["sync"] }
+tokio = { version = "1.38", features = ["sync"] }
 tokio-stream = { version = "0.1", features = ["sync"] }
 
 nimiq-block = { workspace = true }
diff --git a/mempool/Cargo.toml b/mempool/Cargo.toml
index 433f05b26b..950dc0223c 100644
--- a/mempool/Cargo.toml
+++ b/mempool/Cargo.toml
@@ -28,7 +28,7 @@ parking_lot = "0.12"
 prometheus-client = { version = "0.22.2", optional = true}
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["rt", "rt-multi-thread", "sync", "tracing"] }
+tokio = { version = "1.38", features = ["rt", "rt-multi-thread", "sync", "tracing"] }
 tokio-metrics = "0.3"
 tokio-stream = { version = "0.1", features = ["sync"] }
 
diff --git a/metrics-server/Cargo.toml b/metrics-server/Cargo.toml
index a82cd6be9b..85279865ee 100644
--- a/metrics-server/Cargo.toml
+++ b/metrics-server/Cargo.toml
@@ -28,7 +28,7 @@ hyper-util = { version = "0.1", features = ["tokio"] }
 log = { workspace = true }
 parking_lot = "0.12"
 prometheus-client = "0.22.2"
-tokio = { version = "1.37", features = [
+tokio = { version = "1.38", features = [
     "macros",
     "net",
     "rt-multi-thread",
diff --git a/network-interface/Cargo.toml b/network-interface/Cargo.toml
index 7a3d126564..9a34e6187e 100644
--- a/network-interface/Cargo.toml
+++ b/network-interface/Cargo.toml
@@ -27,7 +27,7 @@ log = { workspace = true }
 multiaddr = "0.18"
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["rt"] }
+tokio = { version = "1.38", features = ["rt"] }
 tokio-stream = { version = "0.1", features = ["default", "sync"] }
 
 nimiq-serde = { workspace = true }
diff --git a/network-libp2p/Cargo.toml b/network-libp2p/Cargo.toml
index fbe05e4270..eb99552aca 100644
--- a/network-libp2p/Cargo.toml
+++ b/network-libp2p/Cargo.toml
@@ -36,7 +36,7 @@ rand = "0.8"
 serde = "1.0"
 sha2 = "0.10"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["macros", "rt", "tracing"] }
+tokio = { version = "1.38", features = ["macros", "rt", "tracing"] }
 tokio-stream = "0.1"
 unsigned-varint = "0.8"
 void = "1.0"
@@ -86,7 +86,7 @@ libp2p = { version = "0.53.2", default-features = false, features = [
 
 [dev-dependencies]
 # In dev/testing we require more tokio features
-tokio = { version = "1.37", features = ["macros", "rt", "rt-multi-thread", "test-util", "time", "tracing"] }
+tokio = { version = "1.38", features = ["macros", "rt", "rt-multi-thread", "test-util", "time", "tracing"] }
 
 nimiq-test-log = { workspace = true }
 nimiq-test-utils = { workspace = true }
diff --git a/network-mock/Cargo.toml b/network-mock/Cargo.toml
index 3809a2428b..ad41e751ca 100644
--- a/network-mock/Cargo.toml
+++ b/network-mock/Cargo.toml
@@ -27,7 +27,7 @@ log = { workspace = true }
 parking_lot = "0.12"
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = [
+tokio = { version = "1.38", features = [
     "rt",
     "sync",
 ] }
diff --git a/pow-migration/Cargo.toml b/pow-migration/Cargo.toml
index dd25c32af2..4e10eefd20 100644
--- a/pow-migration/Cargo.toml
+++ b/pow-migration/Cargo.toml
@@ -57,7 +57,7 @@ serde = "1.0"
 serde_derive = "1.0"
 thiserror = "1.0"
 time = "0.3"
-tokio = { version = "1.37", features = [
+tokio = { version = "1.38", features = [
     "macros",
     "rt-multi-thread",
     "tracing",
diff --git a/rpc-client/Cargo.toml b/rpc-client/Cargo.toml
index 7163fd9786..7860edb71a 100644
--- a/rpc-client/Cargo.toml
+++ b/rpc-client/Cargo.toml
@@ -29,7 +29,7 @@ anyhow = "1.0"
 clap = { version = "4.5", features = ["derive"] }
 dotenvy = "0.15"
 futures = { workspace = true }
-tokio = { version = "1.37", features = [
+tokio = { version = "1.38", features = [
     "macros",
     "rt-multi-thread",
     "tracing",
diff --git a/rpc-server/Cargo.toml b/rpc-server/Cargo.toml
index 228fc36df6..94815bfe9a 100644
--- a/rpc-server/Cargo.toml
+++ b/rpc-server/Cargo.toml
@@ -28,7 +28,7 @@ parking_lot = "0.12"
 serde = "1.0"
 serde_json = "1.0"
 thiserror = "1.0"
-tokio = "1.37"
+tokio = "1.38"
 tokio-stream = "0.1"
 
 nimiq-account = { workspace = true }
diff --git a/spammer/Cargo.toml b/spammer/Cargo.toml
index 55c7a9b148..be4f78c417 100644
--- a/spammer/Cargo.toml
+++ b/spammer/Cargo.toml
@@ -26,7 +26,7 @@ futures = { workspace = true }
 log = { workspace = true }
 rand = "0.8.5"
 serde = "1.0"
-tokio = { version = "1.37", features = ["rt-multi-thread", "time", "tracing"] }
+tokio = { version = "1.38", features = ["rt-multi-thread", "time", "tracing"] }
 tokio-metrics = { version = "0.3" }
 toml = "0.8"
 
diff --git a/tendermint/Cargo.toml b/tendermint/Cargo.toml
index 59ea9decfa..0e92f130a3 100644
--- a/tendermint/Cargo.toml
+++ b/tendermint/Cargo.toml
@@ -18,7 +18,7 @@ futures = { workspace = true }
 log = { workspace = true }
 rand = "0.8"
 serde = "1.0"
-tokio = { version = "1.37", features = [
+tokio = { version = "1.38", features = [
     "macros",
     "rt-multi-thread",
     "tracing",
@@ -31,7 +31,7 @@ nimiq-time = { workspace = true }
 
 [dev-dependencies]
 nimiq-test-log = { workspace = true }
-tokio = { version = "1.37", features = [
+tokio = { version = "1.38", features = [
     "macros",
     "rt-multi-thread",
     "tracing",
diff --git a/test-log/proc-macro/Cargo.toml b/test-log/proc-macro/Cargo.toml
index d61e93a1dc..c803976c00 100644
--- a/test-log/proc-macro/Cargo.toml
+++ b/test-log/proc-macro/Cargo.toml
@@ -19,6 +19,6 @@ quote = "1.0"
 syn = { version = "2.0", features = ["full"] }
 
 [dev-dependencies]
-tokio = { version = "1.37", features = ["macros", "rt"] }
+tokio = { version = "1.38", features = ["macros", "rt"] }
 
 nimiq-test-log = { workspace = true }
diff --git a/test-utils/Cargo.toml b/test-utils/Cargo.toml
index 3259c4ef07..889a779d86 100644
--- a/test-utils/Cargo.toml
+++ b/test-utils/Cargo.toml
@@ -27,7 +27,7 @@ paste = "1.0"
 rand = "0.8"
 rand_chacha = "0.3.1"
 serde = "1.0"
-tokio = { version = "1.37", features = ["rt", "time", "tracing"] }
+tokio = { version = "1.38", features = ["rt", "time", "tracing"] }
 tokio-stream = "0.1"
 
 nimiq-account = { workspace = true }
diff --git a/time/Cargo.toml b/time/Cargo.toml
index 4d92fe744e..2b33b99ed2 100644
--- a/time/Cargo.toml
+++ b/time/Cargo.toml
@@ -17,5 +17,5 @@ workspace = true
 futures = "0.3"
 gloo-timers = { version = "0.3", features = ["futures"] }
 send_wrapper = { version = "0.6", features = ["futures"] }
-tokio = { version = "1.36", features = ["time"] }
+tokio = { version = "1.38", features = ["time"] }
 tokio-stream = { version = "0.1", features = ["time"] }
diff --git a/validator-network/Cargo.toml b/validator-network/Cargo.toml
index b49cd271df..1d134cba7c 100644
--- a/validator-network/Cargo.toml
+++ b/validator-network/Cargo.toml
@@ -27,7 +27,7 @@ parking_lot = "0.12"
 serde = "1.0"
 thiserror = "1.0"
 time = { version = "0.3" }
-tokio = { version = "1.37", features = ["rt"] }
+tokio = { version = "1.38", features = ["rt"] }
 
 nimiq-bls = { workspace = true, features = ["lazy", "serde-derive"] }
 nimiq-network-interface = { workspace = true }
diff --git a/validator/Cargo.toml b/validator/Cargo.toml
index 1114bdcd50..a3de39a310 100644
--- a/validator/Cargo.toml
+++ b/validator/Cargo.toml
@@ -28,7 +28,7 @@ parking_lot = "0.12"
 rand = "0.8"
 rayon = "1.10"
 serde = "1.0"
-tokio = { version = "1.37", features = ["rt", "time", "tracing"] }
+tokio = { version = "1.38", features = ["rt", "time", "tracing"] }
 tokio-metrics = "0.3"
 tokio-stream = { version = "0.1", features = ["sync"] }
 
@@ -60,7 +60,7 @@ nimiq-vrf = { workspace = true }
 
 [dev-dependencies]
 hex = "0.4"
-tokio = { version = "1.37", features = ["rt", "test-util", "time", "tracing"] }
+tokio = { version = "1.38", features = ["rt", "test-util", "time", "tracing"] }
 tracing-core = "0.1"
 tracing-subscriber = "0.3"
 
diff --git a/web-client/Cargo.toml b/web-client/Cargo.toml
index c4452e0b8e..8502f8a4a8 100644
--- a/web-client/Cargo.toml
+++ b/web-client/Cargo.toml
@@ -29,7 +29,7 @@ js-sys = "0.3"
 log = { workspace = true }
 serde = "1.0"
 serde-wasm-bindgen = "0.6"
-tokio = { version = "1.37", features = ["sync"] }
+tokio = { version = "1.38", features = ["sync"] }
 tsify = { git = "https://github.com/sisou/tsify", branch = "sisou/comments", default-features = false, features = ["js"] }
 wasm-bindgen = "0.2"
 wasm-bindgen-futures = "0.4"
diff --git a/zkp-component/Cargo.toml b/zkp-component/Cargo.toml
index d2fe1fb80c..6f83d2a411 100644
--- a/zkp-component/Cargo.toml
+++ b/zkp-component/Cargo.toml
@@ -36,7 +36,7 @@ parking_lot = "0.12"
 rand = "0.8"
 serde = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.37", features = ["macros", "rt", "sync"] }
+tokio = { version = "1.38", features = ["macros", "rt", "sync"] }
 tokio-stream = { version = "0.1", features = ["sync"] }
 tracing-subscriber = { version = "0.3", optional = true }
 
diff --git a/zkp-component/zkp-test-gen/Cargo.toml b/zkp-component/zkp-test-gen/Cargo.toml
index e75b7c5c05..087cc433b9 100644
--- a/zkp-component/zkp-test-gen/Cargo.toml
+++ b/zkp-component/zkp-test-gen/Cargo.toml
@@ -18,7 +18,7 @@ hex = "0.4"
 log = { workspace = true }
 parking_lot = "0.12"
 serde = "1.0"
-tokio = { version = "1.37", features = ["macros", "rt", "sync"] }
+tokio = { version = "1.38", features = ["macros", "rt", "sync"] }
 tracing-subscriber = { version = "0.3" }
 
 nimiq-block = { workspace = true }