KNC Titans: Missed Quarter 3 Deadline and No Refunds

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kncminer-titan-scrypt-asic-minerKNC Titans from the first batch were scheduled to ship within Quarter 2 and Quarter 3, but October is the first month of quarter 4. Many KNC Titan customers have yet to receive their unprofitable KNC Titan units. KNC is not just violating the mandatory 14-day refund laws in their country, but they are refusing to offer refunds for products that they aren’t even shipping in the promised time-frame. That has left some customers wondering if KNC has absconded with their over $10,000 payment.

Also see: KnC Titans Failed to Ship Last Week Due to Firmware Issues

KNC Titans – No Refunds, No Equipment

KNC Titans have received a couple firmware updates recently, but some customers have yet to see their KNC Titan. With the Titan bringing in less money with each passing day, the ability for customers to even get some of their money back is looking increasingly grim. However, KNC Titan customers who have not used their mining equipment will be pleased to hear that a Swedish attorney, Magnus Daar of Nova, has been working diligently to take KNC down for their illegal activities. He’s very interested in helping KNC’s Titan customers to claim their refunds and more information will be provided on CCN shortly about how he can help.

If you have yet to receive your KNC Titan, in order to stay compliant with Swedish law, don’t use your Titan and also save your money for return shipping charges. Swedish law requires the consumer to pay for the return shipping. As long as you cooperate with Swedish law, you might have a chance of seeing all of your money once again with the help of Magnus Daar or another skilled attorney. There has also been talk of organizing a class-action lawsuit against KNC through Magnus Daar, but nothing is clear yet on exactly how things will proceed.

KNC Titans are still in the process of shipping, but the customers who have received their KNC Titans are certainly unhappy with the way KNC has developed the product. With a list of 22 issues with the KNC Titan, you can easily tell that KNC doesn’t care about the products they deliver. They only care about having their customers’ money end up in their pockets. KNC Titans are yielding lower hash rates than marketed and Kurt, a KNC forum moderator, has decided to blame the pools for the issue, but is his claim entirely without merit? Some commenters point out that it could be a “flush time delay” with the KNC Titan.

Keith states that most issues with the Titan are either an issue with the pool, the customer’s setup or that the KNC Titan needs to be restarted to fix the issue. It’s never KNC’s fault when it comes to the hardware aspect, according to Keith. That causes down time and profit loss, and the KNC Titan owner might not always be around to restart the KNC Titan.

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What do you think about KNC Titans not being refundable when the laws in their country clearly state that companies must honor refund requests from consumers within 14 days of receipt? Do you think that KNC is really above the law as their website seems to claim? Are you looking forward to hearing more about the ongoing adventures Magnus Daar and the quest for legal recompense from KNC? Leave a comment below and express your views. If there is a topic of interest that you’d like to see covered, send us a news tip.

Disclosure: I am a KNC Titan customer with two KNC Titans on pre-order.

Images from KnCMiner.

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Rick Mac Gillis entered the world of Cryptocurrencies in late 2013. He is a controversial journalist committed to investigating and exposing the "dirty bits" of the community. With over a decade of experience in LAMP web development with a focus in custom cryptographic security methods and ethical hacking, Rick Mac Gillis understands the need for proper security standards in cryptocurrency.