diff --git a/apps/remix-ide-e2e/src/tests/debugger.test.ts b/apps/remix-ide-e2e/src/tests/debugger.test.ts
index 60408cf1d3..c659dabc01 100644
--- a/apps/remix-ide-e2e/src/tests/debugger.test.ts
+++ b/apps/remix-ide-e2e/src/tests/debugger.test.ts
@@ -95,7 +95,7 @@ module.exports = {
       .waitForElementVisible('#stepdetail')
       .waitForElementVisible({
         locateStrategy: 'xpath',
-        selector: '//*[@data-id="treeViewLivm trace step" and contains(.,"545")]',
+        selector: '//*[@data-id="treeViewLivm trace step" and contains(.,"531")]',
       })
       .getEditorValue((content) => {
         browser.assert.ok(content.indexOf(`constructor (string memory name_, string memory symbol_) {
diff --git a/apps/remix-ide/ci/makeMockCompiler.js b/apps/remix-ide/ci/makeMockCompiler.js
index fe55444109..f2912e0d04 100644
--- a/apps/remix-ide/ci/makeMockCompiler.js
+++ b/apps/remix-ide/ci/makeMockCompiler.js
@@ -3,7 +3,7 @@
 var fs = require('fs')
 var compiler = require('solc')
 var compilerInput = require('@remix-project/remix-solidity').CompilerInput
-var defaultVersion = 'soljson-v0.8.7+commit.e28d00a7.js'
+var defaultVersion = 'soljson-v0.8.17+commit.8df45f5f.js'
 const path = require('path')
 
 compiler.loadRemoteVersion(defaultVersion, (error, solcSnapshot) => {
diff --git a/apps/solidity-compiler/src/app/compiler.ts b/apps/solidity-compiler/src/app/compiler.ts
index 0e5c67678c..f0562b296f 100644
--- a/apps/solidity-compiler/src/app/compiler.ts
+++ b/apps/solidity-compiler/src/app/compiler.ts
@@ -9,7 +9,7 @@ import { CompileTabLogic } from '@remix-ui/solidity-compiler'
 const defaultCompilerParameters = {
   runs: '200',
   optimize: false,
-  version: 'soljson-v0.8.7+commit.e28d00a7',
+  version: 'soljson-v0.8.17+commit.8df45f5f',
   evmVersion: null, // compiler default
   language: 'Solidity',
   useFileConfiguration: false,
diff --git a/libs/remix-tests/src/testRunner.ts b/libs/remix-tests/src/testRunner.ts
index fe5014d2f9..7731786068 100644
--- a/libs/remix-tests/src/testRunner.ts
+++ b/libs/remix-tests/src/testRunner.ts
@@ -218,6 +218,7 @@ export function runTest (testName: string, testObject: any, contractDetails: Com
   if (!isJSONInterfaceAvailable) { return resultsCallback(new Error('Contract interface not available'), { passingNum, failureNum, timePassed }) }
   const runList: RunListInterface[] = createRunList(testObject.options.jsonInterface, fileAST, testName)
   const web3 = opts.web3 || new Web3()
+  web3.eth.handleRevert = true // enables returning error reason on revert
   const accts: TestResultInterface = {
     type: 'accountList',
     value: opts.accounts
@@ -375,23 +376,27 @@ export function runTest (testName: string, testObject: any, contractDetails: Com
           console.error(err)
           return next(err)
         }
-      }).on('error', async (err: Error) => {
+      }).on('error', async (err) => {
         const time: number = (Date.now() - startTime) / 1000.0
+        let errMsg = err.message
+        let txHash
+        if (err.reason) errMsg = `transaction reverted with the reason: ${err.reason}` 
         const resp: TestResultInterface = {
           type: 'testFailure',
           value: changeCase.sentenceCase(func.name),
           filename: testObject.filename,
           time: time,
-          errMsg: err.message,
+          errMsg,
           context: testName,
           web3
         }
-        if (err.message.includes('Transaction has been reverted by the EVM')) {
-          const txHash = JSON.parse(err.message.replace('Transaction has been reverted by the EVM:', '')).transactionHash
-          if (web3.eth && web3.eth.getHHLogsForTx) hhLogs = await web3.eth.getHHLogsForTx(txHash)
-          if (hhLogs && hhLogs.length) resp.hhLogs = hhLogs
-          resp.debugTxHash = txHash
+        if (err.receipt) txHash = err.receipt.transactionHash
+        else if (err.message.includes('Transaction has been reverted by the EVM')) {
+          txHash = JSON.parse(err.message.replace('Transaction has been reverted by the EVM:', '')).transactionHash
         }
+        if (web3.eth && web3.eth.getHHLogsForTx && txHash) hhLogs = await web3.eth.getHHLogsForTx(txHash)
+        if (hhLogs && hhLogs.length) resp.hhLogs = hhLogs
+        resp.debugTxHash = txHash
         testCallback(undefined, resp)
         failureNum += 1
         timePassed += time
diff --git a/libs/remix-ui/solidity-compiler/src/lib/compiler-container.tsx b/libs/remix-ui/solidity-compiler/src/lib/compiler-container.tsx
index 38633d24d2..e8ed7edf01 100644
--- a/libs/remix-ui/solidity-compiler/src/lib/compiler-container.tsx
+++ b/libs/remix-ui/solidity-compiler/src/lib/compiler-container.tsx
@@ -53,7 +53,7 @@ export const CompilerContainer = (props: CompilerContainerProps) => {
     customVersions: [],
     compilerLicense: null,
     selectedVersion: null,
-    defaultVersion: 'soljson-v0.8.7+commit.e28d00a7.js', // this default version is defined: in makeMockCompiler (for browser test)
+    defaultVersion: 'soljson-v0.8.17+commit.8df45f5f.js', // this default version is defined: in makeMockCompiler (for browser test)
     runs: '',
     compiledFileName: '',
     includeNightlies: false,
diff --git a/package.json b/package.json
index e5b848822d..1c4e31e6a3 100644
--- a/package.json
+++ b/package.json
@@ -56,8 +56,8 @@
     "browsertest": "sleep 5 && yarn run nightwatch_local",
     "csslint": "csslint --ignore=order-alphabetical --errors='errors,duplicate-properties,empty-rules' --exclude-list='apps/remix-ide/src/assets/css/font-awesome.min.css' apps/remix-ide/src/assets/css/",
     "downloadsolc_assets_e2e": "node ./apps/remix-ide/ci/download_e2e_assets.js",
-    "downloadsolc_assets": "wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.7+commit.e28d00a7.js -O ./apps/remix-ide/src/assets/js/soljson.js && wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.7+commit.e28d00a7.js -O ./apps/solidity-compiler/src/assets/js/soljson.js",
-    "downloadsolc_assets_dist": "wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.7+commit.e28d00a7.js -O ./dist/apps/remix-ide/assets/js/soljson.js && wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.7+commit.e28d00a7.js -O ./dist/apps/solidity-compiler/assets/js/soljson.js",
+    "downloadsolc_assets": "wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.17+commit.8df45f5f.js -O ./apps/remix-ide/src/assets/js/soljson.js && wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.17+commit.8df45f5f.js -O ./apps/solidity-compiler/src/assets/js/soljson.js",
+    "downloadsolc_assets_dist": "wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.17+commit.8df45f5f.js -O ./dist/apps/remix-ide/assets/js/soljson.js && wget --no-check-certificate https://binaries.soliditylang.org/wasm/soljson-v0.8.17+commit.8df45f5f.js -O ./dist/apps/solidity-compiler/assets/js/soljson.js",
     "make-mock-compiler": "node apps/remix-ide/ci/makeMockCompiler.js",
     "minify": "uglifyjs --in-source-map inline --source-map-inline -c warnings=false",
     "build:production": "NODE_ENV=production nx build remix-ide --configuration=production --skip-nx-cache",