Okay I had this problem and here was my solution!
My external HD wasn't being detected and I was getting the malfunctioned message. I simply unplugged it, shut down my PC, unplugged my computer from the wall, turned off it's power supply, and then reconnected everything and booted up. It has something to do with shutting the power supply to your mother board and then restarting. I highly suggest everyone try this even if it seems too simple to work, since it worked for me
Good luck guys.