diff --git a/package.json b/package.json
index e6bc30775..59f0ff45d 100644
--- a/package.json
+++ b/package.json
@@ -106,7 +106,7 @@
     "@types/mocha": "^10.0.1",
     "@uma/sdk": "^0.34.1",
     "arweave": "^1.14.4",
-    "axios": "^0.27.2",
+    "axios": "^0.28.0",
     "big-number": "^2.0.0",
     "decimal.js": "^10.3.1",
     "ethers": "^5.7.2",
diff --git a/yarn.lock b/yarn.lock
index db03c1630..07e0ac54d 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4171,24 +4171,16 @@ axios@^0.24.0:
   dependencies:
     follow-redirects "^1.14.4"
 
-axios@^0.27.2:
-  version "0.27.2"
-  resolved "https://registry.yarnpkg.com/axios/-/axios-0.27.2.tgz#207658cc8621606e586c85db4b41a750e756d972"
-  integrity sha512-t+yRIyySRTp/wua5xEr+z1q60QmLq8ABsS5O9Me1AsE5dfKqgnCFzwiCZZ/cGNd1lq4/7akDWMxdhVlucjmnOQ==
-  dependencies:
-    follow-redirects "^1.14.9"
-    form-data "^4.0.0"
-
-axios@^1.4.0:
-  version "1.5.0"
-  resolved "https://registry.yarnpkg.com/axios/-/axios-1.5.0.tgz#f02e4af823e2e46a9768cfc74691fdd0517ea267"
-  integrity sha512-D4DdjDo5CY50Qms0qGQTTw6Q44jl7zRwY7bthds06pUGfChBCTcQs+N743eFWGEd6pRTMd6A+I87aWyFV5wiZQ==
+axios@^0.28.0:
+  version "0.28.0"
+  resolved "https://registry.yarnpkg.com/axios/-/axios-0.28.0.tgz#801a4d991d0404961bccef46800e1170f8278c89"
+  integrity sha512-Tu7NYoGY4Yoc7I+Npf9HhUMtEEpV7ZiLH9yndTCoNhcpBH0kwcvFbzYN9/u5QKI5A6uefjsNNWaz5olJVYS62Q==
   dependencies:
     follow-redirects "^1.15.0"
     form-data "^4.0.0"
     proxy-from-env "^1.1.0"
 
-axios@^1.6.2:
+axios@^1.4.0, axios@^1.6.2:
   version "1.6.7"
   resolved "https://registry.yarnpkg.com/axios/-/axios-1.6.7.tgz#7b48c2e27c96f9c68a2f8f31e2ab19f59b06b0a7"
   integrity sha512-/hDJGff6/c7u0hDkvkGxR/oy6CbCs8ziCsC7SqmhjfozqiJGc8Z11wrv9z9lYfY4K8l+H9TpjcMDX0xOZmx+RA==
@@ -7551,12 +7543,7 @@ fn.name@1.x.x:
   resolved "https://registry.yarnpkg.com/fn.name/-/fn.name-1.1.0.tgz#26cad8017967aea8731bc42961d04a3d5988accc"
   integrity sha512-GRnmB5gPyJpAhTQdSZTSp9uaPSvl09KoYcMQtsB9rQoOmzs9dH6ffeccH+Z+cv6P68Hu5bC6JjRh4Ah/mHSNRw==
 
-follow-redirects@^1.12.1, follow-redirects@^1.14.0, follow-redirects@^1.14.4, follow-redirects@^1.14.9, follow-redirects@^1.15.0:
-  version "1.15.3"
-  resolved "https://registry.yarnpkg.com/follow-redirects/-/follow-redirects-1.15.3.tgz#fe2f3ef2690afce7e82ed0b44db08165b207123a"
-  integrity sha512-1VzOtuEM8pC9SFU1E+8KfTjZyMztRsgEfwQl44z8A25uy13jSzTj6dyK2Df52iV0vgHCfBwLhDWevLn95w5v6Q==
-
-follow-redirects@^1.15.4:
+follow-redirects@^1.12.1, follow-redirects@^1.14.0, follow-redirects@^1.14.4, follow-redirects@^1.15.0, follow-redirects@^1.15.4:
   version "1.15.5"
   resolved "https://registry.yarnpkg.com/follow-redirects/-/follow-redirects-1.15.5.tgz#54d4d6d062c0fa7d9d17feb008461550e3ba8020"
   integrity sha512-vSFWUON1B+yAw1VN4xMfxgn5fTUiaOzAJCKBwIIgT/+7CuGy9+r+5gITvP62j3RmaD5Ph65UaERdOSRGUzZtgw==