diff --git a/examples/src/cross-contract-call.js b/examples/src/cross-contract-call.js
index 8a713064a..a315bfe97 100644
--- a/examples/src/cross-contract-call.js
+++ b/examples/src/cross-contract-call.js
@@ -20,7 +20,7 @@ class OnCall extends NearContract {
     _set_person_on_call_private({ accountId }) {
         near.log(`_set_person_on_call_private called, accountId ${accountId}`)
         if (near.currentAccountId() !== near.predecessorAccountId()) {
-            near.panic('Function can be used as a callback only')
+            throw Error('Function can be used as a callback only')
         }
         const status = JSON.parse(near.promiseResult(0))
         near.log(`${accountId} status is ${status}`)
diff --git a/examples/src/non-fungible-token.js b/examples/src/non-fungible-token.js
index 980163342..77d677f48 100644
--- a/examples/src/non-fungible-token.js
+++ b/examples/src/non-fungible-token.js
@@ -48,7 +48,7 @@ class NftContract extends NearContract {
     _nftResolveTransfer({ sender_id, receiver_id, token_id }) {
         near.log(`_nftResolveTransfer called, receiver_id ${receiver_id}, token_id ${token_id}`)
         if (near.currentAccountId() == !near.predecessorAccountId()) {
-            near.panic('Function can be used as a callback only')
+            throw Error('Function can be used as a callback only')
         }
         const isTokenTransfered = JSON.parse(near.promiseResult(0))
         near.log(`${token_id} ${isTokenTransfered ? 'was transfered' : 'was NOT transfered'}`)
diff --git a/jsvm/tests/src/bytes.js b/jsvm/tests/src/bytes.js
index c29269c13..a10d1ac3c 100644
--- a/jsvm/tests/src/bytes.js
+++ b/jsvm/tests/src/bytes.js
@@ -57,27 +57,27 @@ export function storage_read_utf8_sequence_bytes_key_arbitrary_bytes_value() {
 }
 
 export function panic_test() {
-    near.panic()
+    throw Error()
 }
 
 export function panic_ascii_test() {
-    near.panic('abc')
+    throw Error('abc')
 }
 
 export function panic_js_number() {
-    near.panic(356)
+    throw Error(356)
 }
 
 export function panic_js_undefined() {
-    near.panic(undefined)
+    throw Error(undefined)
 }
 
 export function panic_js_null() {
-    near.panic(null)
+    throw Error(null)
 }
 
 export function panic_utf8_test() {
-    near.panic('水')
+    throw Error('水')
 }
 
 export function panicUtf8_valid_utf8_sequence() {
diff --git a/lib/api.d.ts b/lib/api.d.ts
index aaedb3ceb..709d89c15 100644
--- a/lib/api.d.ts
+++ b/lib/api.d.ts
@@ -16,7 +16,6 @@ export declare function keccak256(value: Bytes): Bytes;
 export declare function keccak512(value: Bytes): Bytes;
 export declare function ripemd160(value: Bytes): Bytes;
 export declare function ecrecover(hash: Bytes, sig: Bytes, v: number, malleabilityFlag: number): Bytes | null;
-export declare function panic(msg?: string): never;
 export declare function panicUtf8(msg: string): never;
 export declare function logUtf8(msg: string): void;
 export declare function logUtf16(msg: string): void;
diff --git a/lib/api.js b/lib/api.js
index 0f7ec0b38..983cad0f0 100644
--- a/lib/api.js
+++ b/lib/api.js
@@ -67,14 +67,7 @@ export function ecrecover(hash, sig, v, malleabilityFlag) {
     }
     return env.read_register(0);
 }
-export function panic(msg) {
-    if (msg !== undefined) {
-        env.panic(msg);
-    }
-    else {
-        env.panic();
-    }
-}
+// NOTE: "env.panic(msg)" is not exported, use "throw Error(msg)" instead
 export function panicUtf8(msg) {
     env.panic_utf8(msg);
 }
@@ -268,7 +261,7 @@ export function promiseResult(resultIdx) {
         return status;
     }
     else {
-        panic(`Unexpected return code: ${status}`);
+        throw Error(`Unexpected return code: ${status}`);
     }
 }
 export function promiseReturn(promiseIdx) {
diff --git a/src/api.ts b/src/api.ts
index 2da516a82..3676aef14 100644
--- a/src/api.ts
+++ b/src/api.ts
@@ -4,7 +4,6 @@ const U64_MAX = 2n ** 64n - 1n;
 const EVICTED_REGISTER = U64_MAX - 1n;
 
 interface Env {
-  panic: (msg?: string) => never;
   panic_utf8: (msg: string) => never;
   [x: string]: any;
 }
@@ -100,13 +99,7 @@ export function ecrecover(
   return env.read_register(0);
 }
 
-export function panic(msg?: string): never {
-  if (msg !== undefined) {
-    env.panic(msg);
-  } else {
-    env.panic();
-  }
-}
+// NOTE: "env.panic(msg)" is not exported, use "throw Error(msg)" instead
 
 export function panicUtf8(msg: string): never {
   env.panic_utf8(msg);
@@ -424,7 +417,7 @@ export function promiseResult(
   ) {
     return status;
   } else {
-    panic(`Unexpected return code: ${status}`);
+    throw Error(`Unexpected return code: ${status}`);
   }
 }
 
diff --git a/tests/__tests__/bytes.ava.js b/tests/__tests__/bytes.ava.js
index 80443bb30..c2554de47 100644
--- a/tests/__tests__/bytes.ava.js
+++ b/tests/__tests__/bytes.ava.js
@@ -168,45 +168,45 @@ test('Storage read bytes tests', async t => {
 test('panic tests', async t => {
     const { ali, bytesContract } = t.context.accounts;
     let r = await ali.callRaw(bytesContract, 'panic_test', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: explicit guest panic'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked:*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panic_ascii_test', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: abc'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked: abc*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panic_js_number', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: 356'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked: 356*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panic_js_undefined', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: explicit guest panic'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked:*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panic_js_null', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: null'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked: null*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panic_utf8_test', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: 水'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked: 水*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panicUtf8_valid_utf8_sequence', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: 水'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked: 水*/)
     );
 
     r = await ali.callRaw(bytesContract, 'panicUtf8_invalid_utf8_sequence', '');
diff --git a/tests/__tests__/test_log_panic_api.ava.js b/tests/__tests__/test_log_panic_api.ava.js
index 7bf0aa7a6..59700165b 100644
--- a/tests/__tests__/test_log_panic_api.ava.js
+++ b/tests/__tests__/test_log_panic_api.ava.js
@@ -86,39 +86,38 @@ test('Log invalid utf-16 sequence panic', async t => {
 test('panic tests', async t => {
     const { ali, testContract } = t.context.accounts;
     let r = await ali.callRaw(testContract, 'panic_test', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: explicit guest panic'
-    );
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/^Smart contract panicked:*/));
 
     r = await ali.callRaw(testContract, 'panic_ascii_test', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: abc'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/^Smart contract panicked: abc*/)
     );
 
     r = await ali.callRaw(testContract, 'panic_js_number', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: 356'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/^Smart contract panicked: 356*/)
     );
 
     r = await ali.callRaw(testContract, 'panic_js_undefined', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: explicit guest panic'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/^Smart contract panicked:*/)
     );
 
     r = await ali.callRaw(testContract, 'panic_js_null', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: null'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/^Smart contract panicked: null*/)
     );
 
     r = await ali.callRaw(testContract, 'panic_utf8_test', '');
-    t.deepEqual(
-        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError,
-        'Smart contract panicked: 水'
+    t.assert(
+        r.result.receipts_outcome[0].outcome.status.Failure.ActionError.kind.FunctionCallError.ExecutionError
+        .match(/Smart contract panicked: 水*/)
     );
 
     r = await ali.callRaw(testContract, 'panicUtf8_valid_utf8_sequence', '');
diff --git a/tests/src/bytes.js b/tests/src/bytes.js
index 2d9123687..6f35221b7 100644
--- a/tests/src/bytes.js
+++ b/tests/src/bytes.js
@@ -57,27 +57,27 @@ export function storage_read_utf8_sequence_bytes_key_arbitrary_bytes_value() {
 }
 
 export function panic_test() {
-    near.panic()
+    throw Error()
 }
 
 export function panic_ascii_test() {
-    near.panic('abc')
+    throw Error('abc')
 }
 
 export function panic_js_number() {
-    near.panic(356)
+    throw Error(356)
 }
 
 export function panic_js_undefined() {
-    near.panic(undefined)
+    throw Error(undefined)
 }
 
 export function panic_js_null() {
-    near.panic(null)
+    throw Error(null)
 }
 
 export function panic_utf8_test() {
-    near.panic('水')
+    throw Error('水')
 }
 
 export function panicUtf8_valid_utf8_sequence() {
diff --git a/tests/src/log_panic_api.js b/tests/src/log_panic_api.js
index 56935a921..c87e5ee47 100644
--- a/tests/src/log_panic_api.js
+++ b/tests/src/log_panic_api.js
@@ -34,27 +34,27 @@ export function log_invalid_utf16_sequence_test() {
 }
 
 export function panic_test() {
-    near.panic()
+    throw Error()
 }
 
 export function panic_ascii_test() {
-    near.panic('abc')
+    throw Error('abc')
 }
 
 export function panic_js_number() {
-    near.panic(356)
+    throw Error(356)
 }
 
 export function panic_js_undefined() {
-    near.panic(undefined)
+    throw Error(undefined)
 }
 
 export function panic_js_null() {
-    near.panic(null)
+    throw Error(null)
 }
 
 export function panic_utf8_test() {
-    near.panic('水')
+    throw Error('水')
 }
 
 export function panicUtf8_valid_utf8_sequence() {