If you do, I'd put it up on Ebay as "parts not working".
Won't have to!! fixed it after 3 cups of coffee and 16 hours

. For all users who have similar problems, here is what i tried:
1) open it up and clean with a dust buster, apply new thermal paste and reattach the heatsink.
2) connect with 2 different PSUs on 2 different sides and you'll see the wires get like super hot! after this increase wires from 1 port to all 4 and you'll see the green LED become more and more bright with each connection.
3) visual inspection of controller to see whether some solder has shorted (not mine thankfully, that would have taken another hour to fix!).
4) another power socket.
5)another network cable.
6) all steps mentioned earlier in the thread.
7) sub 20C environment.

new PSU (doesn't have to be larger, just another one to ensure that this one doesn't have any problem).
9) lots and lots of patience, and especially no throwing it on the ground after you get frustrated (took me another hour to fix that one

).