diff --git a/CHANGELOG b/CHANGELOG
index a5109a8..eab1d91 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -540,3 +540,8 @@
 * Update Synapse to 1.50.1
 * [Full changelog](https://github.com/matrix-org/synapse/releases/tag/v1.50.1)
 
+[1.38.3]
+* Update Synapse to 1.50.2
+* [Full changelog](https://github.com/matrix-org/synapse/releases/tag/v1.50.2)
+* Fix a bug introduced in Synapse 1.40.0 that caused Synapse to fail to process incoming federation traffic after handling a large amount of events in a v1 room. (#11806)
+
diff --git a/CloudronManifest.json b/CloudronManifest.json
index 950eda8..d786cb1 100644
--- a/CloudronManifest.json
+++ b/CloudronManifest.json
@@ -5,7 +5,7 @@
   "description": "file://DESCRIPTION.md",
   "changelog": "file://CHANGELOG",
   "tagline": "Secure & decentralized communication",
-  "version": "1.38.2",
+  "version": "1.38.3",
   "healthCheckPath": "/",
   "httpPort": 8008,
   "memoryLimit": 536870912,
diff --git a/DESCRIPTION.md b/DESCRIPTION.md
index 1c440f5..c46e264 100644
--- a/DESCRIPTION.md
+++ b/DESCRIPTION.md
@@ -1,4 +1,4 @@
-This app packages Synapse <upstream>1.50.1</upstream>.
+This app packages Synapse <upstream>1.50.2</upstream>.
 
 **This package only provides the Matrix backend. A variety of clients are available
 [here](https://matrix.org/clients/). Riot is a popular web frontend for Matrix and
diff --git a/Dockerfile b/Dockerfile
index 61cb902..0cde686 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -9,7 +9,7 @@ RUN virtualenv -p python3 /app/code/env
 ENV VIRTUAL_ENV=/app/code/env
 ENV PATH="$VIRTUAL_ENV/bin:$PATH"
 
-ARG VERSION=v1.50.1
+ARG VERSION=v1.50.2
 
 # Synapse (https://github.com/matrix-org/synapse/blob/master/INSTALL.md)
 # lxml - required for previews