The defective component should only be a protective device as it is connected between +5V and GND. It gave his live trying to save the sensitive electronics in vain.
An undamaged drive should work even with this component removed. Something else seems to be wrong. Perhaps it's just a step down switching voltage regulator, but it might also be the complete electronics. I don't think the schematics are available and I think there is a only a small chance that someone skilled with electronics repair might be able to repair it.