Help! My electric appliance is burning hot and smells like plastic.

I'm having a serious issue with my small electric rice cooker. Every time I use it for more than an hour, the casing gets extremely hot, almost burning to the touch, and there's a distinct, acrid smell, like burning plastic or burnt insulation. I've checked the power cord and it seems fine, but I'm really worried about a potential electrical fault. Has anyone experienced this before? Should I stop using it immediately, or is this normal wear and tear for this model? Any advice on what I should check or if I need to replace it would be greatly appreciated.