I agree with Avner. It was probably one of the original Blue belts. I have had the same problem with rear belts on the Losi Street Weapon. I didn't use it for a while and the rubber from the belts just cracked up and then destroyed itself. I bought some number of new belts for it, but as the kit had been discontinued for some time the new belts were probably pretty old. These all melted in the same way as your.
Have a good look at the pulleys. when this happened to my belts it made a bit of a mess of them where the string reinforcement wrapped around them. Its worth replacing them at the same time as the belt.
Check all the other belts too, as they may be on there way out too, and just get green belts all round anyway.
Ben
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