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I suspect that there is little that you can do.
Try powering it Off, leaving it that way for 1/2 hour or more, and trying it again.
(Try it again in a different USB port, also.)
If it still has the red light, then do you need data off of it? if so, it may be recoverable, or it may not. The question is, how is the disk inside formatted? and what computer do you have to access it with?