Bitcoin Forum

They have misled me into purchasing their miners. I paid in BTC and they now want to pay me in USD (over $1000 USD less than my original value).

Here's the best part -

They agreed to a refund WEEKS AGO and I have still not received it (while watching the value of BTC rocket in price). Because I was concerned about the process of my refund (as others reported it takes mere days) I started to email them without a response. Their phone number says it has been disconnected and they do not reply to emails (it has been over 4 working days).

They are criminals who will be prosecuted and require a scam tag! They make BFL look good! I will be contacting the local authorities tomorrow.

Take this as a warning -


DO NOT BUY AN ASIC MINER FROM KNCMINER!

sorry for your experience pls.

I am waiting for my refund within SEPA zone since 8 days.

It is a high 5 digit euro sum.


While I paid in BTC the actual amount I would have now would be around a median 6digit sumif I held to m´y BTC.

But okay thats not KNC fault ..that was my own decision and I knew the risk.

But waiting 21 days now ( since requesting the refund ) does smell scam.

Where there is smoke there is fire.

CANCEL ALL YOUR ORDERS AS LONG AS YOU CAN !

That is scary, I honestly contemplated making an order couple days ago. hope it works out for u

I was originally pissed that I was being refund in USD, instead of BTC but I finally agreed as I wanted my money back. For weeks they assured me that it was coming and now they have gone completely. Phone number disconnected and everything. There are reports on btc-e of others being scammed as well. I think the issue is wide spread. I am glad the owners are well known, it will make the police report tomorrow very easy to track them down.

Do not make orders with kncminer, if you do, cancel it now! A lot of people I know are not ordering from them anymore. Don't lose thousands like I have.

Okay I was able to call them and to verify all my details.

I still give them the benfit of doubt..but another 2-3 days maximum.

Also my bank confirmed it SHOULD be there but sometimes it can take some time.

When you paid via Bitpay you knew all they receive is USD as well so no reason to be pissed...that was absolutely clear .

But waiting 9 Business days now for a USD transfer within SEPA is horrible...but okay I will keep you updated.

When you do a purchase the purchase is made in a "valuated" manner. When you pay with BTC you pay a price what it costs translated to US dollars.
That value is determined in that particular moment when you purchase the item.

If the price for the merchandise is $1000 then you perhaps pay 5 BTC for it at that particular moment.  If times go by and things doesn't pan out as it should then you want a refund due to some circumstances then they agree to pay you back you will only get back that much BTC that it's Worth by the time they actually DO the refund..

For instance if BTC failed and was not Worth more than perhaps $50/BTC then you would get 20 BTC back to you, if it's Worth $500/BTC then you get 2 BTC back... Then again you could hope that the BTC wasn't worth much then you'd get many many bitcoins but again who wants them at that time?!

It's that simple! Why??

Because today companies cannot purchase services and stuff for BTC, they simply need to Exchange it down to a currency that exists and that is viable for use between each and everyone.. $ SEK, Euro , Yen etc etc..
If the World was a wonderful Place then we would not have any other currency BUT the BTC only then when the value of it doesn't vary that much you would get as much BTC back as you payed but only then... We are about 20 - 30 years away if BTC still is viable..

This is an experiment that has been very sucessfull and survived two major crashes already and rebounced. That is the sign of self preservation currency and we can only hope that its here to last. It would be so easy for the World to use it.

Hope you now understand why things pan out as it is for the moment. For me KnC has been helpful with my RMAs etc and i'm running as it should. And i'm sorry that it hasn't panned out good for you.. Swedes have closed offices in Saturdays and Sundays and if you wrote something to them four Days ago you would probably recieve an answer in maximum six more hours until their office is closed for tonight.

Take care!

KNC is one of the few that actually delivers the machines compared to others that go belly up or many months of delay such as BFL...

If I remembered right, their website at that time stated, NO REFUND

You are correct, when production started for real.. They refused refunds and stated "All sales are final"..

Hm i bought my mercury in August and got it really fast. Had no problems with KnC Miner but i bought with USD.

The refund was agreed upon as it was only for hosting. The continued to tell me that the refund is coming and now they have dropped off the planet and do not answer phone calls or emails.

This is a blatant scam. Everyone will hear about this.

They have cut contact with me and have ran with my $2000 USD. They are unreachable with phone and email. The WORST experience I have ever had with a company.

Don't mis quote me please. I was trying to be polite and help you here.

This guy is deleting people's posts when they try and help him. I think he is a trouble maker, or likely someone trying to get people to cancel their orders so that he can place one, knowing that they are sold out.

No, you 'helped' by advising things that were in the OP. Sorry it came across as rude.

Please read the thread first.

Sorry to hear about your issues with Kncminer, I got my orders In good time.

Sorry you are having trouble but the thread is misleading. Should be more along lines of "Having trouble getting refund from KnC".......SCAM is a bold statement!

Thank you.

I have reached out on multiple occasions to have this remedied. It is now nearing a month since I was unhappy with the issue and they have gone silent. I will do everything possible to ensure everyone is educated about kncminer. Hopefully the police secure a conviction, I have everything documented so it should be very easy.

I have already contacted the Stockholm police. Heading into my local police station tomorrow.


@KGBSlim no I think it is appropriate when they have blocked all communication from me and refuse to answer my emails. It has been weeks since they were meant to send the refund and they continued to say they were putting it in, now they are completely silent and they have even blocked my kncminer account. Sounds like a scam to me. There were other people on btc-e saying they were scammed by kncminer as well.

Thanks for the warning OP , hope you get your money back

All Scammer tries to keep up a regular correspondence...

Thanks everyone. I emailed them from a different email and they responded immediately, so they have obviously blocked my email/ phone number. Now that they have my money, they don't want anything to do with me. It is still not resolved and they are still withholding my money.

Thank you again for the support.

Hopefully you'll get everything sorted. I love your username! Very creative.

By delaying my refund for weeks, they have inadvertently made me lose thousands of dollars in BTC due to the price rise. I am looking into potential legal action as well.

Lets all bring down kncminer together! Stop letting these ASIC companies get away with fraud. 

Almost out of the noob jail so I can post on every kncminer thread on this forum and create a scam accusation with proof.

Writing up my post for the scam accusation thread.

What!! now every single ASIC manufacturer turns into scam....

This guy is very gay hes deleting posts of you when u think diffrent hahaha

interesting, i thought kncminer is the most reliable... much better than butterfly?

I had no problems with kncminer, delivered mercury as promissed. I am sorry to hear you got in trouble with them. But to be honest I would need some more substantial proof than just words to not buy from them any more. Also they have forum on their website, you can start a thread there and post a link here.

This OP is ridiculous! He is flaming everywhere and he deletes postings as the 1 guy said. KnC is a reputable company, tons of satisfied customers and it seems there is very few disgruntled but id imagine looking at their postings the OP was sending harassing emails to the company ie threats, vulgarity etc. This is a tough business for that company to be in, they are pioneering mining equipment so of course there will be small issues that will have to be worked out, nobody can be the 1st in this line of manufacturing without having some small errors. look at every company that exists today, all of them at 1 time had a 'gliche' of some sort. This is a different ballgame because a small issue that bring a customers mining rig to a halt or not on time, money is being lost every second, its not like a car where you can borrow someone elses and take yours to a mechanic if ya see where im going with that. We all are gambling when we buy these rigs, this guy was pissed because he wanted the same amount of BTCs back as when he paid even though im sure the value was astronomically lower when he paid. He must of thought he was doing business with the Federal Reserve of Bitcoin like they werent goin to cash the btcs in for fiat(Do you honestly think the chipmakers etc were goin to accept BTC for payment from KnC?)! Then he said they sent wire but it was rejected because the name wasnt exact on the transfer. I feel bad that happened, it sounds like a simple mistake, but like I said id bet a million dollars he flew off the charts because of this and pissed off the wrong person. This company can not reply to you if youve threatened or harrassed them in any way. I think you probably should create a new email and apologize for having no class what so ever on their forum and here and explain you just want them to try to resend the refund. I almost think this is just a shill acct for a certain person unhappy on KnC forums. You keep using phrases exact and same grammar as they do, and a few other things dont add up. I see you on their as 1 name then as 'angrycustomer' other times.  I think youre pissed you didnt hold onto the Bitcoins and the value skyrocketed....Im going to copy and paste this post to notepad so if I see you deleted it ill be back to repost. You said "Worse than BFL" in 1 thread hahahahah, seems legit!

They delivered my Saturn as promised certainly not a scam!

kncminerSCAM, are you really BFL_Josh??

Probably is Josh! After spending a cool 1million made off the rigs he never sent out to buy more products from his own company, he now finds redemption in bashing companies that actually promised and delivered!

I though KNCminer is the best out of all the company.. So which one now??

Thank you for the heads up. And sorry for your loss.

Dude stop shilling it already!!

KNC is a reputable company. Why would they do such a thing?
Like @KGBSlim said, you must have pissed off the wrong person.

I purchased a Saturn from KNCMiner in July.  It was delivered in November.  I'm a happy customer.  My only advice would be to try and remain civil.  As soon as you get belligerent, people are less likely to help you.

Yea KnCminer actually is the most reliable today in terms of low time from pay/get.

They are working hard to fix things for most people and it will get done. Every Company that i know doesn't work to 100% from the start it's a evolving process.
My issues were resolved directly with them..

This suckss!!

Still no refund after over 4 weeks now...

They keep telling customers they made an error on the bank statements etc..

KNC IS SCAM !!!

did you get your refund yet?

I thought they were very reputable till I saw this. I noticed they haven't sold out on the second batch either because ROI is prolly not gonna happen..