Power cord to MagSafe broke off!

I noticed the other night that the cord that comes out of my MageSafe adapter was pretty hot... I just chalked it up to.... well, I don't know what I thought it was doing.

Then tonight I plugged in my power cord to my MacBook and a few minutes later I noticed that the battery icon in my menu bar was no longer showing that it was charging. That's when I realized that the cord had somehow severed right where it enters the MagSafe adapter.

Luckily, my MacBook is still under AppleCare, but I was just curious to hear if other people have had this same issue. It seems like a huge safety hazard to me.