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There are no factory resets - if you're having problems with the MIDI control, the first thing I would suggest is to check that you haven't re-mapped any of the controls in the Serato settings > MIDI page. If the hardware remapping is disabled and you still have problems, please consider using a MIDI monitor application (such as MIDI-OX for Windows or MIDI Monitor for Mac) to see if the hardware is still transmitting the data from those controls as it should.
You may also want to try using a different USB cable and/or USB port and make sure you're using the external power supply.