diff --git a/CHANGELOG.md b/CHANGELOG.md
index c57996be..5c1996df 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -36,11 +36,16 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+## [v0.3.1]
+
+[\#266] Bump tendermint version to 0.32.7 to address cosmos security advisory [Periwinkle](https://forum.cosmos.network/t/cosmos-mainnet-security-advisory-periwinkle/2911)
+
 ## [v0.3.0]
 
 ### Features
 
 [\#253] Add a new validator vesting account type, which releases coins on a periodic vesting schedule based on if a specific validator signed sufficient pre-commits. If the validator didn't sign enough pre-commits, the vesting coins are burned or sent to a return address.
+
 [\#260] Pin to cosmos-sdk commit #18de630 (tendermint 0.32.6)
 
 ### Improvements
diff --git a/go.mod b/go.mod
index 5d3e804c..ca6b8e18 100644
--- a/go.mod
+++ b/go.mod
@@ -9,7 +9,7 @@ require (
 	github.com/spf13/viper v1.4.0
 	github.com/stretchr/testify v1.4.0
 	github.com/tendermint/go-amino v0.15.0
-	github.com/tendermint/tendermint v0.32.6
+	github.com/tendermint/tendermint v0.32.7
 	github.com/tendermint/tm-db v0.2.0
 	gopkg.in/yaml.v2 v2.2.4
 )
diff --git a/go.sum b/go.sum
index b4dce279..b61a9570 100644
--- a/go.sum
+++ b/go.sum
@@ -258,6 +258,8 @@ github.com/tendermint/tendermint v0.32.5 h1:2hCLwuzfCKZxXSe/+iMEl+ChJWKJx6g/Wcvq
 github.com/tendermint/tendermint v0.32.5/go.mod h1:D2+A3pNjY+Po72X0mTfaXorFhiVI8dh/Zg640FGyGtE=
 github.com/tendermint/tendermint v0.32.6 h1:HozXi0USWvKrWuEh5ratnJV10ykkTy4nwXUi0UvPVzg=
 github.com/tendermint/tendermint v0.32.6/go.mod h1:D2+A3pNjY+Po72X0mTfaXorFhiVI8dh/Zg640FGyGtE=
+github.com/tendermint/tendermint v0.32.7 h1:Szu5Fm1L3pvn3t4uQxPAcP+7ndZEQKgLie/yokM56rU=
+github.com/tendermint/tendermint v0.32.7/go.mod h1:D2+A3pNjY+Po72X0mTfaXorFhiVI8dh/Zg640FGyGtE=
 github.com/tendermint/tm-db v0.1.1 h1:G3Xezy3sOk9+ekhjZ/kjArYIs1SmwV+1OUgNkj7RgV0=
 github.com/tendermint/tm-db v0.1.1/go.mod h1:0cPKWu2Mou3IlxecH+MEUSYc1Ch537alLe6CpFrKzgw=
 github.com/tendermint/tm-db v0.2.0 h1:rJxgdqn6fIiVJZy4zLpY1qVlyD0TU6vhkT4kEf71TQQ=