It's possible that something is defective, but probably not. What exactly is flashing red? Which part of the board? The Aura RGB light or the error LEDs? If so, which? Is the board working?
If nothing turns on, is there often no power (8Pin CPU power and 24Pin ATX power plug inserted?)? RAM installed in the correct slots according to the manual, all cables and plug-in cards well seated?
Otherwise, you can try to remove all components except the CPU and a memory module (in the 2nd slot from the CPU) (also the graphics card, connect the monitor directly to the board) and reinstall them gradually.