diff --git a/raiden/blockchain/abi.py b/raiden/blockchain/abi.py
index 1e9ae1e580..fe7a78e737 100644
--- a/raiden/blockchain/abi.py
+++ b/raiden/blockchain/abi.py
@@ -14,6 +14,8 @@
 from raiden.utils import get_contract_path
 from raiden.constants import MIN_REQUIRED_SOLC
 
+from distutils.version import LooseVersion
+
 __all__ = (
     'CONTRACT_MANAGER',
 
@@ -134,6 +136,13 @@ def validate_solc():
             "Make sure the solidity compiler is installed and available on your $PATH."
         )
 
+    elif LooseVersion(_solidity.compiler_version()) < LooseVersion(MIN_REQUIRED_SOLC[1:]):
+        raise RuntimeError(
+            'You are currently using the solidity compiler version {}.\n'
+            'Please upgrade to the minimum compatible version {}.'.format(
+                _solidity.compiler_version(), MIN_REQUIRED_SOLC)
+        )
+
     try:
         _solidity.compile_contract(
             get_contract_path('HumanStandardToken.sol'),