diff --git a/Cargo.lock b/Cargo.lock
index 2c39daf94d597..9b8d465d64eb8 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2198,7 +2198,7 @@ dependencies = [
  "serde_json",
  "simpl",
  "smpl_jwt",
- "time 0.2.16",
+ "time 0.2.23",
  "tokio",
 ]
 
@@ -5225,7 +5225,7 @@ dependencies = [
  "rustc_version",
  "serde",
  "sha2 0.9.1",
- "time 0.2.16",
+ "time 0.2.23",
  "tokio",
 ]
 
@@ -5820,7 +5820,7 @@ dependencies = [
  "serde_derive",
  "serde_json",
  "simpl",
- "time 0.2.16",
+ "time 0.2.23",
 ]
 
 [[package]]
@@ -6197,11 +6197,11 @@ dependencies = [
 
 [[package]]
 name = "time"
-version = "0.2.16"
+version = "0.2.23"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3a51cadc5b1eec673a685ff7c33192ff7b7603d0b75446fb354939ee615acb15"
+checksum = "bcdaeea317915d59b2b4cd3b5efcd156c309108664277793f5351700c02ce98b"
 dependencies = [
- "cfg-if 0.1.10",
+ "const_fn",
  "libc",
  "standback",
  "stdweb",
diff --git a/deny.toml b/deny.toml
index d9b4c7547aafe..7022cb664d8d0 100644
--- a/deny.toml
+++ b/deny.toml
@@ -5,8 +5,7 @@ ignore = [
     # failure: failure is officially deprecated/unmaintained
     "RUSTSEC-2020-0036",
     # stdweb is unmaintained
+    # can be removed after next release of time
+    # https://github.com/time-rs/time/commit/8b2734351a5cd05a9bd3315f1af76c28b5852fec
     "RUSTSEC-2020-0056",
-    # Potential segfault in the time crate
-    # https://github.com/time-rs/time/issues/293
-    "RUSTSEC-2020-0071",
 ]