Quote from: Tigggger on June 06, 2014, 10:21:46 AM

Quote from: edgar on June 06, 2014, 06:13:02 AM

Quote from: gafter on June 06, 2014, 05:55:39 AM

On April 11 I cancelled our most recent order from kncminer. On April 24 I received a "refund" that is short of the correct amount by more than $6,000 USD. I've gone round and round with support staff about this, and the final word (from Sam) is that they have no intention of paying me one cent more.

Sorry to pile on to this, but I thought it best to let you all know.

Can you explain how this came to be for the benefit of others who may be facing similar fraudulence?

sorry to hear they raped you too - the fearful part is we are going to get used to it and start liking it... Embarrassed

Yes please elaborate, I'd guess that the disputed amount revolves around the change in BTC price, OP is trying to get the same amount of BTC back that he paid, but KNC have refunded the $ amount, in which case there is no scam.

Quite the opposite, actually. I paid during the first batch of orders when the price of bitcoins was around $830 USD. The purchase price was $203,320 USD. I requested a refund when it was around $480 USD. They used $495 USD as the exchange rate to compute my refund, even though it wasn't trading anywhere near there, thereby shorting my refund (see the refund at https://blockchain.info/address/1FCBP2nNjWE5CnSxqdpBW33RAeVJ1RGQWx)

Since that time the exchange rate has increased, and they are claiming that they don't owe me any more. Their support said things like

Quote

Anna (kncminer)
Apr 24 18:37

Hello,

The bitcoin exchange rate at the time of refund was 495 USD.
We will not be refunding any additional funds on this matter.

Best regards |
Med vänlig hälsning

Anna Jagdhar

Kncminer
www.kncminer.com
Office: +46 8559 253 20

and

Quote

Hello Neal,

You have paid for your orders in bitcoins and you actually paid much less bitcoins that you have received from us:
11707 - 121.96 BTC and have been refunded 205.37 BTC
12008 - 121.56 BTC and have been refunded 205.37 BTC

You have received 167.22 BTC more than you actually paid for the order.

Best regards |
Med vänlig hälsning

Anna Jagdhar

Kncminer
www.kncminer.com
Office: +46 8559 253 20

Sam's explanation of not wanting to pay the full USD value was

Quote

May 22
to Neal

Ok

So as this was a USD value based transaction, how about you send us back the 410 BTC and then we will recalculate and send again.

As far as I can see you used us to hedge the price of BTC paying only a fraction of the coins we have sent you. This was not the terms you agreed to you agreed to when purchasing so if you want to take this further feel free, but you will receive no more coins from us.

Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
Kncminer

www.kncminer.com
Office: +46 8559 253 20