KnCMiner Responds to Customer Backlash Over 'Deceptive' Compensation Scheme
Cryptocurrency mining hardware company KnCMiner has defended itself against claims it had potentially attempted to mislead customers with its new hosted mining offer. KnCMiner customers have recently taken to reddit to complain about the Stockholm-based company's use of small print accompanying its new offer, which removes customers' rights to benefit from the previous 2-for-1 Neptune offer. "It was never our intention to deceive people," said Sam Cole, co-founder of KnCMiner. Conflicting offers. On 28th April, KnCMiner offered every customer who had an outstanding order for the first two....
Related News
Earlier today, KnCMiner updated their website to reveal a Litecoin Mining Hardware tab, right next to their Bitcoin Mining Hardware tab. Under the new tab, KnCMiner reveals information on their newest ASIC miner: The Titan. The Titan is a 100 MH/s Scrypt ASIC that is designed to be used on the Litecoin network. Of course, there are hundreds of other Scrypt-based altcoins that are clones of Litecoin with slightly modded parameters. The Titan can be used to mine on any of those altcoins as well. The Titan costs $9,995 to preorder and shipment is slated for Q2/Q3 of 2014. KnCMiner has also....
Original Neptune announcement image. KnCMiner has previously received a lot of attention as the first "legitimate" Bitcoin ASIC manufacturer especially after the BFL fiasco, but has this once widely-touted company lost its touch and turned to the dark side? Editor's Note: KnCMiner's CMO, Nanok Bie, has reached out to CCN to clarify that no Neptunes are being used in their datacenter. Furthermore, he clarified that KnCMiner's 5% of total network hashrateincludes the hashratethat they sell in contracts; that is to say, KnCMiner makes less than $3.6 million USD a month from mining. He also....
J-J's broken KnCMiner Super Jupiter. KnCMiner has started shipping a 3 TH/s Bitcoin mining box, the largest single Bitcoin ASIC miner in existence at the moment. The unfortunate part, though, is that none of these KnCMiner Super Jupiters arrived at their destination in one piece. KnCMiner has responded promptly on their forum, promising to ship new, properly constructed, units to affected customers, free of charge. KnCMiner also emphasized that customers needing to RMA their Super Jupiter would not have to pay return shipping on the existing $10,000 “machine” that was shipped to them; they....
The Nasdaq-listed cryptocurrency exchange Coinbase has insisted that it does not sell “proprietary customer data” after reports surfaced that its Tracer product is providing “historical geo tracking data” to the U.S. Immigrations and Customs Enforcement (ICE). Coinbase Responds to Reports of It Selling Customer Data to U.S. Government Cryptocurrency exchange Coinbase came under fire last week when reports surfaced accusing the Nasdaq-listed company of selling customer data to the U.S. government. Coinbase Tracer, the analytics arm of the cryptocurrency....
The US Justice Department (DOJ) has announced a compensation process for victims of the OneCoin fraud. The funds are expected to come from property forfeited in the case, money traced back to the people behind the scheme, including co-founders Ruja Ignatova and Karl Sebastian Greenwood. The DOJ said in a Monday statement that more than $40 million in forfeited assets are currently available for victim compensation. OneCoin Proceeds To Compensate Victims OneCoin was an international cryptocurrency investment scheme that ran from 2014 to 2019 and relied on deception to draw in investors....