diff --git a/run_service.sh b/run_service.sh
index b4d1cfbd..7ca80943 100755
--- a/run_service.sh
+++ b/run_service.sh
@@ -354,7 +354,7 @@ fi
 directory="trader"
 # This is a tested version that works well.
 # Feel free to replace this with a different version of the repo, but be careful as there might be breaking changes
-service_version="v0.7.0"
+service_version="v0.7.1"
 service_repo=https://github.com/valory-xyz/$directory.git
 if [ -d $directory ]
 then
diff --git a/scripts/fix_interrupted_service_update.sh b/scripts/fix_interrupted_service_update.sh
index ebfc65be..1568f00e 100755
--- a/scripts/fix_interrupted_service_update.sh
+++ b/scripts/fix_interrupted_service_update.sh
@@ -228,7 +228,7 @@ fi
 directory="trader"
 # This is a tested version that works well.
 # Feel free to replace this with a different version of the repo, but be careful as there might be breaking changes
-service_version="v0.7.0"
+service_version="v0.7.1"
 service_repo=https://github.com/valory-xyz/$directory.git
 echo "Cloning the $directory repo..."
 git clone --depth 1 --branch $service_version $service_repo