Noob question: Do I loose if my whole team panics?

[BlorkTheOrk]

I am pretty sure once I achieved defeat in mission when my whole team panicked. But at this point I just wonder if it is actually possible or is it just my imagination.

[Solarius Scorch]

No, this has never been the case. It's a common situation that you lose your entire team except for 1 person, and you're trying to get this person back to the craft, and every turn is a gamble: will we get a panic attack or not?