I have a old Peplink BPL1350 and have not been using for quite some time, so I turn it on and reset through the front panel, after restarting the unit, the front panel stuck at booting and IP from before resetting and factory default are not accessible. I tried access through console but since I forgot the password, i could not access even the default password admin/admin.
After you factory reset the Balance do you have an active WAN connection? It sounds like a config may have been pushed down after it was reset. I would recommend only have a LAN connection after factory resetting and trying the admin/admin to log in again.
The Balance currently does not connect to anything except my laptop via LAN,which I could not ping the default IP and also the IP before factory reset.