diff --git a/core/src/panic.rs b/core/src/panic.rs
index 9f1fcbed99..f99b302dc0 100644
--- a/core/src/panic.rs
+++ b/core/src/panic.rs
@@ -1,13 +1,31 @@
-use std::{panic, process};
+use kaspa_core::error;
+use std::{panic, process, thread};
 
 /// Configures the panic hook to exit the program on every panic
 pub fn configure_panic() {
     let default_hook = panic::take_hook();
     panic::set_hook(Box::new(move |panic_info| {
-        // Invoke the default hook and exit the process
+        // Get the panic location details
+        let (file, line, column) = match panic_info.location() {
+            Some(location) => (location.file(), location.line(), location.column()),
+            None => ("unknown", 0, 0),
+        };
+
+        let message = match panic_info.payload().downcast_ref::<&str>() {
+            Some(s) => *s,
+            None => match panic_info.payload().downcast_ref::<String>() {
+                Some(s) => &s[..],
+                None => "Box<dyn Any>",
+            },
+        };
+        // Get the thread name
+        let current_thread = thread::current();
+        let thread_name = current_thread.name().unwrap_or("<unnamed>");
+        // Log the panic
+        error!("thread '{}' panicked at {}:{}:{}: {}", thread_name, file, line, column, message);
+        // Invoke the default hook as well, since it might include additional info such as the full backtrace
         default_hook(panic_info);
         println!("Exiting...");
-        // TODO: setup a wait time and fold the log system properly
         process::exit(1);
     }));
 }
diff --git a/kaspad/src/daemon.rs b/kaspad/src/daemon.rs
index dd8a215e58..0950ad8fab 100644
--- a/kaspad/src/daemon.rs
+++ b/kaspad/src/daemon.rs
@@ -158,14 +158,15 @@ pub fn get_log_dir(args: &Args) -> Option<String> {
 
 impl Runtime {
     pub fn from_args(args: &Args) -> Self {
-        // Configure the panic behavior
-        kaspa_core::panic::configure_panic();
-
         let log_dir = get_log_dir(args);
 
         // Initialize the logger
         kaspa_core::log::init_logger(log_dir.as_deref(), &args.log_level);
 
+        // Configure the panic behavior
+        // As we log the panic, we want to set it up after the logger
+        kaspa_core::panic::configure_panic();
+
         Self { log_dir: log_dir.map(|log_dir| log_dir.to_owned()) }
     }
 }
@@ -248,7 +249,7 @@ pub fn create_core_with_runtime(runtime: &Runtime, args: &Args, fd_total_budget:
 
     // Reset Condition: User explicitly requested a reset
     if is_db_reset_needed && db_dir.exists() {
-        let msg = "Reset DB was requested -- this means the current databases will be fully deleted, 
+        let msg = "Reset DB was requested -- this means the current databases will be fully deleted,
 do you confirm? (answer y/n or pass --yes to the Kaspad command line to confirm all interactive questions)";
         get_user_approval_or_exit(msg, args.yes);
         info!("Deleting databases");
diff --git a/simpa/src/main.rs b/simpa/src/main.rs
index 492bbf8e2a..1baecc3e78 100644
--- a/simpa/src/main.rs
+++ b/simpa/src/main.rs
@@ -136,6 +136,7 @@ fn main() {
     kaspa_core::log::init_logger(None, &args.log_level);
 
     // Configure the panic behavior
+    // As we log the panic, we want to set it up after the logger
     kaspa_core::panic::configure_panic();
 
     // Print package name and version
@@ -170,7 +171,7 @@ fn main_impl(mut args: Args) {
 
     if args.miners > 1 {
         warn!(
-            "Warning: number of miners was configured to {}. Currently each miner added doubles the simulation 
+            "Warning: number of miners was configured to {}. Currently each miner added doubles the simulation
         memory and runtime footprint, while a single miner is sufficient for most simulation purposes (delay is simulated anyway).",
             args.miners
         );
@@ -441,8 +442,9 @@ mod tests {
         args.tpb = 1;
         args.test_pruning = true;
 
-        kaspa_core::panic::configure_panic();
         kaspa_core::log::try_init_logger(&args.log_level);
+        // As we log the panic, we want to set it up after the logger
+        kaspa_core::panic::configure_panic();
         main_impl(args);
     }
 }
diff --git a/testing/integration/src/mempool_benchmarks.rs b/testing/integration/src/mempool_benchmarks.rs
index feddfbba48..d9b8ff5768 100644
--- a/testing/integration/src/mempool_benchmarks.rs
+++ b/testing/integration/src/mempool_benchmarks.rs
@@ -39,8 +39,9 @@ use tokio::join;
 #[tokio::test]
 #[ignore = "bmk"]
 async fn bench_bbt_latency() {
-    kaspa_core::panic::configure_panic();
     kaspa_core::log::try_init_logger("info,kaspa_core::time=debug,kaspa_mining::monitor=debug");
+    // As we log the panic, we want to set it up after the logger
+    kaspa_core::panic::configure_panic();
 
     // Constants
     const BLOCK_COUNT: usize = usize::MAX;
@@ -286,8 +287,9 @@ async fn bench_bbt_latency() {
 #[tokio::test]
 #[ignore = "bmk"]
 async fn bench_bbt_latency_2() {
-    kaspa_core::panic::configure_panic();
     kaspa_core::log::try_init_logger("info,kaspa_core::time=debug,kaspa_mining::monitor=debug");
+    // As we log the panic, we want to set it up after the logger
+    kaspa_core::panic::configure_panic();
 
     // Constants
     const BLOCK_COUNT: usize = usize::MAX;
diff --git a/testing/integration/src/rpc_tests.rs b/testing/integration/src/rpc_tests.rs
index 4fbb4155be..3224cefee9 100644
--- a/testing/integration/src/rpc_tests.rs
+++ b/testing/integration/src/rpc_tests.rs
@@ -39,8 +39,9 @@ macro_rules! tst {
 /// `cargo test --release --package kaspa-testing-integration --lib -- rpc_tests::sanity_test`
 #[tokio::test]
 async fn sanity_test() {
-    kaspa_core::panic::configure_panic();
     kaspa_core::log::try_init_logger("info");
+    // As we log the panic, we want to set it up after the logger
+    kaspa_core::panic::configure_panic();
 
     let args = Args {
         simnet: true,
diff --git a/testing/integration/src/subscribe_benchmarks.rs b/testing/integration/src/subscribe_benchmarks.rs
index 95279b1766..375e2359ff 100644
--- a/testing/integration/src/subscribe_benchmarks.rs
+++ b/testing/integration/src/subscribe_benchmarks.rs
@@ -75,10 +75,11 @@ fn create_client_addresses(index: usize, network_id: &NetworkId) -> Vec<Address>
 #[ignore = "bmk"]
 async fn utxos_changed_subscriptions_sanity_check() {
     init_allocator_with_default_settings();
-    kaspa_core::panic::configure_panic();
     kaspa_core::log::try_init_logger(
-        "INFO, kaspa_core::time=debug, kaspa_rpc_core=debug, kaspa_grpc_client=debug, kaspa_notify=info, kaspa_notify::address::tracker=debug, kaspa_notify::listener=debug, kaspa_notify::subscription::single=debug, kaspa_mining::monitor=debug, kaspa_testing_integration::subscribe_benchmarks=trace", 
+        "INFO, kaspa_core::time=debug, kaspa_rpc_core=debug, kaspa_grpc_client=debug, kaspa_notify=info, kaspa_notify::address::tracker=debug, kaspa_notify::listener=debug, kaspa_notify::subscription::single=debug, kaspa_mining::monitor=debug, kaspa_testing_integration::subscribe_benchmarks=trace",
     );
+    // As we log the panic, we want to set it up after the logger
+    kaspa_core::panic::configure_panic();
 
     let (prealloc_sk, _) = secp256k1::generate_keypair(&mut thread_rng());
     let args = ArgsBuilder::simnet(TX_LEVEL_WIDTH as u64 * CONTRACT_FACTOR, PREALLOC_AMOUNT)
@@ -131,10 +132,11 @@ async fn utxos_changed_subscriptions_sanity_check() {
 #[ignore = "bmk"]
 async fn bench_utxos_changed_subscriptions_daemon() {
     init_allocator_with_default_settings();
-    kaspa_core::panic::configure_panic();
     kaspa_core::log::try_init_logger(
-        "INFO, kaspa_core::core=trace, kaspa_core::time=debug, kaspa_rpc_core=debug, kaspa_grpc_client=debug, kaspa_notify=info, kaspa_notify::address::tracker=debug, kaspa_notify::listener=debug, kaspa_notify::subscription::single=debug, kaspa_mining::monitor=debug, kaspa_testing_integration::subscribe_benchmarks=trace", 
+        "INFO, kaspa_core::core=trace, kaspa_core::time=debug, kaspa_rpc_core=debug, kaspa_grpc_client=debug, kaspa_notify=info, kaspa_notify::address::tracker=debug, kaspa_notify::listener=debug, kaspa_notify::subscription::single=debug, kaspa_mining::monitor=debug, kaspa_testing_integration::subscribe_benchmarks=trace",
     );
+    // As we log the panic, we want to set it up after the logger
+    kaspa_core::panic::configure_panic();
 
     let daemon_args = DaemonArgs::from_env_args();
     let args = ArgsBuilder::simnet(TX_LEVEL_WIDTH as u64 * CONTRACT_FACTOR, PREALLOC_AMOUNT).apply_daemon_args(&daemon_args).build();
@@ -157,10 +159,11 @@ async fn bench_utxos_changed_subscriptions_daemon() {
 
 async fn utxos_changed_subscriptions_client(address_cycle_seconds: u64, address_max_cycles: usize) {
     init_allocator_with_default_settings();
-    kaspa_core::panic::configure_panic();
     kaspa_core::log::try_init_logger(
-        "INFO, kaspa_core::time=debug, kaspa_rpc_core=debug, kaspa_grpc_client=debug, kaspa_notify=info, kaspa_notify::address::tracker=debug, kaspa_notify::listener=debug, kaspa_notify::subscription::single=debug, kaspa_mining::monitor=debug, kaspa_testing_integration::subscribe_benchmarks=trace", 
+        "INFO, kaspa_core::time=debug, kaspa_rpc_core=debug, kaspa_grpc_client=debug, kaspa_notify=info, kaspa_notify::address::tracker=debug, kaspa_notify::listener=debug, kaspa_notify::subscription::single=debug, kaspa_mining::monitor=debug, kaspa_testing_integration::subscribe_benchmarks=trace",
     );
+    // As we log the panic, we want to set it up after the logger
+    kaspa_core::panic::configure_panic();
 
     assert!(address_cycle_seconds >= 60);
     if TX_COUNT < TX_LEVEL_WIDTH {