If the insulation melted, it may have short circuited.
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Ohm's Law is for direct current. Alternating current works differently.

Holy crap, I had no idea ๐ฑ thanks! ๐ฅฐ
Here's a DC Ohm's Law example from my work.
'80s Atari arcade games have a voltage sensing circuit that connects back to the power supply. The game has a mostly constant current draw; all the semiconductors are connected to the PSU so they can do their jobs.
As the game ages and connector pins oxidize, resistance goes up. Resistance going up means the power supply slowly adjusts its own voltage up to keep the current constant. Higher voltage in the wires means more waste heat, which increases the rate of oxidation... It's fairly common to see burned "card edge" connectors and melted plastic, but the game still works... until the chips start having their own failures from the higher voltage and heat.
Once, I put one of the Atari custom chips with blackened legs in tarnish remover and half of the legs completely dissolved. Soldered new legs on and refurbish the card edge connectors - all good!
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