Squared Celeron Duo does not boot

So I just bought this and am trying to use it with some 5V/3A Power Supply (5V/3A is stated as Power Input in the details section of the page). However the board does not seem to power up, only the blue led (powerled) and the lan led's are blinking (~2-3s on, then off and instantly on again).

Is there anything I can to in order to get this working or is my board defective?

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