Objective DAC is not working after v3 upgrade

My USB Objective DAC stopped working after v3 upgrade. There is sound but it is quite a bit distorted. Anyone has experience with similar issues?

I have had Odroid C2 setup with ODAC and working fine for quite a long time. On v1 and later, v2.
Unfortunately, I did not keep the v2 image backup and now there is now way to restore it.