RE: Smoke from ESC, motor fault?
Hmmm.
not 100% sure. Beeping noises come from motor not ESC.
seems almost like bearings have seized ( motor or gear shaft ). This may have fried the ESC.
If it went from 0 to full throttle instantly then it could have stripped gears.
Well you probably have to replace the ESC , motor and gearbox.
Hope this helps