Xbox 360 Slim being detected as "Unformatted" shortly after system update 2014

So about a week after the new year started, I was prompted to get a system update. Me and my girlfriend were playing DOA5 Ultimate when it happened. After we went out with some friends for a night out, we decided to play some more games before falling asleep.
When turning on my Xbox, I noticed it took 4-5 for it to get past the Xbox logo with the whit background. After doing so, there was no profiles to be found, and In the system settings my hard drive showed up as UNFORMATTED!!!! I know for a FACT my Xbox has
never been dropped, came into any type of contact with liquid, or experienced any type of mistreatment. I'm starting to believe this "SYSTEM UPDATE" is what made my hard drive start to randomly screw up. I've been with Xbox 360 since 2005 and have experienced
a problem so random, sudden, and definitely frustrating. After surfing the internet for DAYS I finally formatted my hard drive, a 320gb hard drive with only about 3 gigs left at that. 7+ years of hard work gone in an instant. So after taking that painful loss
I continue to game, attempting to just brush it off to the side. Then again, tonight, it happened AGAIN. I was playing just fine yesterday with what little stuff I got back, I come home today and no background, gamer profile, nothing. This isn't fair to your
loyal customers to have some wipeout of hundreds of gigabytes wiped out across the world. I'm not gonna spend 130$ on a new 320gb hard drive when I bought my original one for that much, It's judt not happening sorry. If this can't be fixed then I'm officially
done with Microsoft, something I thought I'd never speak of..l..

:)

 

Unformatted storage after failed update

So this morning I was playing my xbox just fine, then this afternoon I turned it back on and was told there is an update. After two failed attempts I decided to ignore it for now but when I tried signing back in, my xbox showed zero profiles. So I tried
to download the update again but only to be told I need a certain amount of memory. So I went to Settings > System > Storage and it's telling me "unformatted." Is there anything I can do without trying to format? I'd rather not lose all my saves. This is all
on an xbox 360 slim 4gb. Thank you.

 

Unformatted Hard Drive

I sign on my Xbox 360 today and have to download the new system update but it says I have "insufficient storage" which is stupid because I have over 50GB left on my Hardrive so I delete some random app that was installed to make room for this "huge" system
update... After the update is downloaded my Xbox is now processing extremely slowly and takes over 15 seconds to load any menu or anything I try to do. I make my way over to 'System Settings' and then 'Storage' and it shows my hard drive as 'Unformatted' with
'Capacity: ' and Free Space: ' so I click on the Unformatted hard drive and the only option is to Format it and delete everything on the hard drive. I've tried formatting it twice now to no avail. I'm still unable to store anything on it and it says 'Unformatted'
plus my Xbox is still going sooo slow and I can't access any games or anything from the hard drive. So my questions are: what in the world is going on? Do I need a new hard drive? Is there any way to fix this? Thank you in advance...

 

I am having the same problem. I have a 250g hard drive in a brand new 360 slim. Ever since the most recent update it has on and off appeared as unformatted. I formatted it and lost all my saved games and to make things worse, it has happened again. My profile
and all saved games gone. Clearly it's not my hard drive.. Microsoft has clearly messed up their update. Most likely to make you buy another hard drive or just upgrade to the One. I'm done with Microsoft at this point.