F48 v1 Power LED Blinking

[munu]

I have an F48 v1 (white board) and when I plug it in the power LED and the first data LED are blinking. When I unplug the board and plug it in again, those two LEDs immediately(!) start blinking. From what I searched, this might be an issue with Ethernet connection but I tried multiple cables and connecting directly to a switch. I had this once happening before and somehow it went away, not sure what made it go away. But now it doesn't go away. 

[munu]

If someone else has the same issue, I figured out what is going on. I had a 12/24V to 5V converter. Although it was reading the 4.96V on the voltmeter, I suspect it went bad and couldn't provide the necessary amperage which seems to be around 1.7A. It worked fine before and can put out 5A but after replacing it the F48 started working. 

[Mark_M]

I had something similar with power issues on my F48 last year.
Part of the power protection circuitry was failing. Same symptoms as yours: power LEDs flickering and mine got stuck in a boot loop.
I de soldered and replaced the bad mosfet to get my controller working again.