diff --git a/charts/galoy-deps/Chart.lock b/charts/galoy-deps/Chart.lock
index 4e9f99db17..01b6b78600 100644
--- a/charts/galoy-deps/Chart.lock
+++ b/charts/galoy-deps/Chart.lock
@@ -13,6 +13,6 @@ dependencies:
   version: 1.5.2
 - name: opentelemetry-collector
   repository: https://open-telemetry.github.io/opentelemetry-helm-charts
-  version: 0.108.0
-digest: sha256:e2b4306eac185d9ee0827e570187a6b88e07ab4454d75153b84d2298d5379393
-generated: "2024-10-04T19:59:12.231527006Z"
+  version: 0.111.2
+digest: sha256:decc14da01845e61ac9365cf454366ac7204a5ce7fadbb7378f48dd0fd161973
+generated: "2025-01-15T17:34:51.633920261Z"
diff --git a/charts/galoy-deps/Chart.yaml b/charts/galoy-deps/Chart.yaml
index 092c9c50fa..0e7be66cc8 100644
--- a/charts/galoy-deps/Chart.yaml
+++ b/charts/galoy-deps/Chart.yaml
@@ -39,5 +39,5 @@ dependencies:
     condition: kubemonkey.enabled
   - name: opentelemetry-collector
     repository: https://open-telemetry.github.io/opentelemetry-helm-charts
-    version: 0.108.0
+    version: 0.111.2
     condition: opentelemetry-collector.enabled