SCAM ALERT: KNCMINER is a SCAM - Cancel your orders!

[kncminerSCAM]

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!

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[xchanga.com]

sorry for your experience pls.

[ptshamrock]

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 !

[Dialoz]

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

[kncminerSCAM]

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.

[ptshamrock]

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 !

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.

[ptshamrock]

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.

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.

[Vyper]

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!

[sushi]

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

[Vyper]

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

[Banthex]

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

[kncminerSCAM]

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

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.

[kncminerSCAM]

I haven't read the original post

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.

[lemonte]

I haven't read the original post

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.

[lemonte]

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.

[kncminerSCAM]

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.

[KingslandRoad]

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

[KGBSlim]

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!

[kncminerSCAM]

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

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.

[lolipop]

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