diff --git a/hex/lib/dependabot/hex/file_updater/mixfile_sanitizer.rb b/hex/lib/dependabot/hex/file_updater/mixfile_sanitizer.rb
index c3912b389e0..75b46f66c04 100644
--- a/hex/lib/dependabot/hex/file_updater/mixfile_sanitizer.rb
+++ b/hex/lib/dependabot/hex/file_updater/mixfile_sanitizer.rb
@@ -11,16 +11,40 @@ def initialize(mixfile_content:)
           @mixfile_content = mixfile_content
         end
 
+        FILE_READ      = /File.read\(.*?\)/.freeze
+        FILE_READ_BANG = /File.read!\(.*?\)/.freeze
+        PIPE           = Regexp.escape("|>").freeze
+        VERSION_FILE   = /"VERSION"/i.freeze
+
+        NESTED_VERSION_FILE_READ = /String\.trim\(#{FILE_READ}\)/.freeze
+        NESTED_VERSION_FILE_READ_BANG = /String\.trim\(#{FILE_READ_BANG}\)/.freeze
+        PIPED_VERSION_FILE_READ =
+          /#{VERSION_FILE}[[:space:]]+#{PIPE}[[:space:]]+#{FILE_READ}/.freeze
+        PIPED_VERSION_FILE_READ_BANG =
+          /#{VERSION_FILE}[[:space:]]+#{PIPE}[[:space:]]+#{FILE_READ_BANG}/.freeze
+
         def sanitized_content
           mixfile_content.
-            gsub(/File\.read!\(.*?\)/, '"0.0.1"').
-            gsub(/File\.read\(.*?\)/, '{:ok, "0.0.1"}').
-            gsub(/^\s*config_path:.*(?:,|$)/, "")
+            yield_self(&method(:prevent_version_file_loading)).
+            yield_self(&method(:prevent_config_path_loading))
         end
 
         private
 
         attr_reader :mixfile_content
+
+        def prevent_version_file_loading(configuration)
+          configuration.
+            gsub(NESTED_VERSION_FILE_READ_BANG, 'String.trim("0.0.1")').
+            gsub(NESTED_VERSION_FILE_READ, 'String.trim({:ok, "0.0.1"})').
+            gsub(PIPED_VERSION_FILE_READ, '{:ok, "0.0.1"}').
+            gsub(PIPED_VERSION_FILE_READ_BANG, '"0.0.1"')
+        end
+
+        def prevent_config_path_loading(configuration)
+          configuration.
+            gsub(/^\s*config_path:.*(?:,|$)/, "")
+        end
       end
     end
   end
diff --git a/hex/spec/dependabot/hex/update_checker/file_preparer_spec.rb b/hex/spec/dependabot/hex/update_checker/file_preparer_spec.rb
index 5f3d7112520..5d4d8982d47 100644
--- a/hex/spec/dependabot/hex/update_checker/file_preparer_spec.rb
+++ b/hex/spec/dependabot/hex/update_checker/file_preparer_spec.rb
@@ -107,6 +107,24 @@
               to include('@version String.trim({:ok, "0.0.1"})')
           end
         end
+
+        context "when file loading is done with pipes" do
+          let(:mixfile_fixture_name) { "loads_file_with_pipes" }
+
+          it "removes the call to load the file" do
+            expect(prepared_mixfile.content).
+              to include('@version {:ok, "0.0.1"} |> String.trim()')
+          end
+        end
+
+        context "when file loading is done with pipes and a !" do
+          let(:mixfile_fixture_name) { "loads_file_with_pipes_and_bang" }
+
+          it "removes the call to load the file" do
+            expect(prepared_mixfile.content).
+              to include('@version "0.0.1" |> String.trim()')
+          end
+        end
       end
 
       context "with unlock_requirement set to false" do
diff --git a/hex/spec/fixtures/mixfiles/loads_file_with_pipes b/hex/spec/fixtures/mixfiles/loads_file_with_pipes
new file mode 100644
index 00000000000..2997b94ecff
--- /dev/null
+++ b/hex/spec/fixtures/mixfiles/loads_file_with_pipes
@@ -0,0 +1,26 @@
+defmodule DependabotTest.Mixfile do
+  use Mix.Project
+
+  @version "VERSION" |> File.read() |> String.trim()
+
+  def project do
+    [
+      app: :dependabot_test,
+      version: @version,
+      elixir: "~> 1.5",
+      start_permanent: Mix.env == :prod,
+      deps: deps()
+    ]
+  end
+
+  def application do
+    [extra_applications: [:logger]]
+  end
+
+  defp deps do
+    [
+      {:plug, "1.3.0"},
+      {:phoenix, "== 1.2.1"}
+    ]
+  end
+end
diff --git a/hex/spec/fixtures/mixfiles/loads_file_with_pipes_and_bang b/hex/spec/fixtures/mixfiles/loads_file_with_pipes_and_bang
new file mode 100644
index 00000000000..d51972751de
--- /dev/null
+++ b/hex/spec/fixtures/mixfiles/loads_file_with_pipes_and_bang
@@ -0,0 +1,26 @@
+defmodule DependabotTest.Mixfile do
+  use Mix.Project
+
+  @version "VERSION" |> File.read!() |> String.trim()
+
+  def project do
+    [
+      app: :dependabot_test,
+      version: @version,
+      elixir: "~> 1.5",
+      start_permanent: Mix.env == :prod,
+      deps: deps()
+    ]
+  end
+
+  def application do
+    [extra_applications: [:logger]]
+  end
+
+  defp deps do
+    [
+      {:plug, "1.3.0"},
+      {:phoenix, "== 1.2.1"}
+    ]
+  end
+end