diff --git a/CHANGELOG.md b/CHANGELOG.md
index 172804820..f24dd05bd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Updated
+
+  * Updated `Decimal` dependency requirement to mitigate [CVE-2026-32686](https://www.cve.org/CVERecord?id=CVE-2026-32686) DoS. Versions [2.4.0](https://github.com/ericmj/decimal/blob/main/CHANGELOG.md#v240-2026-05-07) and [3.1.0](https://github.com/ericmj/decimal/blob/main/CHANGELOG.md#v310-2026-05-08) both contain the fix.
+
 ### Backwards incompatible changes
 
   * Support for transparent transfers with `FLAME` is removed, instead use `load_ipc`/`dump_ipc` to explicitly transfer dataframe across nodes
diff --git a/mix.exs b/mix.exs
index d9272d6b7..5dec87917 100644
--- a/mix.exs
+++ b/mix.exs
@@ -44,7 +44,7 @@ defmodule Explorer.MixProject do
       {:rustler_precompiled, "~> 0.7"},
       {:table, "~> 0.1.2"},
       {:table_rex, "~> 4.1"},
-      {:decimal, "~> 2.1"},
+      {:decimal, "~> 2.4 or ~> 3.1"},
 
       ## Optional
       {:adbc, "~> 0.1", optional: true},
diff --git a/mix.lock b/mix.lock
index f3f9bd54e..08a7f867f 100644
--- a/mix.lock
+++ b/mix.lock
@@ -9,7 +9,7 @@
   "cowboy": {:hex, :cowboy, "2.10.0", "ff9ffeff91dae4ae270dd975642997afe2a1179d94b1887863e43f681a203e26", [:make, :rebar3], [{:cowlib, "2.12.1", [hex: :cowlib, repo: "hexpm", optional: false]}, {:ranch, "1.8.0", [hex: :ranch, repo: "hexpm", optional: false]}], "hexpm", "3afdccb7183cc6f143cb14d3cf51fa00e53db9ec80cdcd525482f5e99bc41d6b"},
   "cowboy_telemetry": {:hex, :cowboy_telemetry, "0.4.0", "f239f68b588efa7707abce16a84d0d2acf3a0f50571f8bb7f56a15865aae820c", [:rebar3], [{:cowboy, "~> 2.7", [hex: :cowboy, repo: "hexpm", optional: false]}, {:telemetry, "~> 1.0", [hex: :telemetry, repo: "hexpm", optional: false]}], "hexpm", "7d98bac1ee4565d31b62d59f8823dfd8356a169e7fcbb83831b8a5397404c9de"},
   "cowlib": {:hex, :cowlib, "2.12.1", "a9fa9a625f1d2025fe6b462cb865881329b5caff8f1854d1cbc9f9533f00e1e1", [:make, :rebar3], [], "hexpm", "163b73f6367a7341b33c794c4e88e7dbfe6498ac42dcd69ef44c5bc5507c8db0"},
-  "decimal": {:hex, :decimal, "2.3.0", "3ad6255aa77b4a3c4f818171b12d237500e63525c2fd056699967a3e7ea20f62", [:mix], [], "hexpm", "a4d66355cb29cb47c3cf30e71329e58361cfcb37c34235ef3bf1d7bf3773aeac"},
+  "decimal": {:hex, :decimal, "2.4.1", "6c0fbede12fb122ba685e9ab41c6a40c129e322b3aa192f9e072e61f3a6ffaf2", [:mix], [], "hexpm", "7e618897933a8455f19a727d7c5e50a2c071a544b700e5e724298ecb4340187f"},
   "deep_merge": {:hex, :deep_merge, "1.0.0", "b4aa1a0d1acac393bdf38b2291af38cb1d4a52806cf7a4906f718e1feb5ee961", [:mix], [], "hexpm", "ce708e5f094b9cd4e8f2be4f00d2f4250c4095be93f8cd6d018c753894885430"},
   "dll_loader_helper_beam": {:hex, :dll_loader_helper_beam, "1.2.2", "b86f97ec8fc64770c87468e41969eb309d87b29dd5a439b667e5954f85f8f65a", [:rebar3], [], "hexpm", "0e6119edde0ef5e42b4fe22d7dc71b7462e08573cee977c01a26ec5d9cd94a9a"},
   "earmark_parser": {:hex, :earmark_parser, "1.4.44", "f20830dd6b5c77afe2b063777ddbbff09f9759396500cdbe7523efd58d7a339c", [:mix], [], "hexpm", "4778ac752b4701a5599215f7030989c989ffdc4f6df457c5f36938cc2d2a2750"},