diff --git a/CHANGELOG.md b/CHANGELOG.md
index 834ae8bbeb..a262db73cb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,12 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/)
 and this project adheres to [Semantic Versioning](http://semver.org/spec/v2.0.0.html).
 
+## [v3.32.1](https://github.com/buildkite/agent/compare/v3.32.0...v3.32.1) (2021-08-06)
+
+### Fixed
+
+* A panic in the log redactor when processing certain bytes [#1478](https://github.com/buildkite/agent/issues/1478) ([scv119](https://github.com/scv119))
+
 ## [v3.32.0](https://github.com/buildkite/agent/compare/v3.31.0...v3.32.0) (2021-07-30)
 
 ### Added
diff --git a/agent/version.go b/agent/version.go
index 67eb5a1d95..8b96989860 100644
--- a/agent/version.go
+++ b/agent/version.go
@@ -10,7 +10,7 @@ import "runtime"
 //
 // Pre-release builds' versions must be in the format `x.y-beta`, `x.y-beta.z` or `x.y-beta.z.a`
 
-var baseVersion string = "3.32.0"
+var baseVersion string = "3.32.1"
 var buildVersion string = ""
 
 func Version() string {