diff --git a/CHANGELOG.md b/CHANGELOG.md
index a9cc1c25f..c6c0c2fd4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,9 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [[v2.40.11](https://github.com/multiversx/mx-sdk-dapp/pull/1280)] - 2024-10-09
+- [Fixed axios interceptor concurrent calls](https://github.com/multiversx/mx-sdk-dapp/pull/1279)
+
 ## [[v2.40.10](https://github.com/multiversx/mx-sdk-dapp/pull/1277)] - 2024-10-04
 
 - [Update WalletConnect Provider](https://github.com/multiversx/mx-sdk-dapp/pull/1276)
diff --git a/package.json b/package.json
index 3add9424a..4e848eeaf 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@multiversx/sdk-dapp",
-  "version": "2.40.10",
+  "version": "2.40.11",
   "description": "A library to hold the main logic for a dapp on the MultiversX blockchain",
   "author": "MultiversX",
   "license": "GPL-3.0-or-later",
diff --git a/src/wrappers/AxiosInterceptorContext/components/AxiosInterceptor.tsx b/src/wrappers/AxiosInterceptorContext/components/AxiosInterceptor.tsx
index fc48df3cf..469c35cc7 100644
--- a/src/wrappers/AxiosInterceptorContext/components/AxiosInterceptor.tsx
+++ b/src/wrappers/AxiosInterceptorContext/components/AxiosInterceptor.tsx
@@ -1,4 +1,4 @@
-import React, { useRef, PropsWithChildren, useEffect } from 'react';
+import React, { useRef, PropsWithChildren, useMemo } from 'react';
 import axios from 'axios';
 import { useAxiosInterceptorContext } from './AxiosInterceptorContextProvider';
 
@@ -15,7 +15,7 @@ export const AxiosInterceptor = ({
 
   const requestIdRef = useRef(-1);
 
-  const setResponseInterceptors = () => {
+  requestIdRef.current = useMemo(() => {
     axios.interceptors.response.use(
       (response) => {
         return response;
@@ -30,15 +30,16 @@ export const AxiosInterceptor = ({
         return Promise.reject(error);
       }
     );
-  };
 
-  const setInterceptors = () => {
     axios.interceptors.request.eject(requestIdRef.current);
 
-    requestIdRef.current = axios.interceptors.request.use(
+    return axios.interceptors.request.use(
       async (config) => {
-        if (authenticatedDomains.includes(String(config?.baseURL))) {
-          config.headers.set('Authorization', `Bearer ${bearerToken}`);
+        if (
+          authenticatedDomains.includes(String(config?.baseURL)) &&
+          bearerToken
+        ) {
+          config.headers.Authorization = `Bearer ${bearerToken}`;
         }
 
         return config;
@@ -47,15 +48,7 @@ export const AxiosInterceptor = ({
         Promise.reject(error);
       }
     );
-  };
-
-  useEffect(setResponseInterceptors, []);
-
-  useEffect(() => {
-    if (bearerToken) {
-      setInterceptors();
-    }
-  }, [bearerToken]);
+  }, [bearerToken, authenticatedDomains]);
 
   return <>{children}</>;
 };