Recently, the cybersecurity landscape has been confronted with a daunting new reality – the rise of malicious Generative AI, like FraudGPT and WormGPT. These rogue creations, lurking in the dark corners of the internet, pose a distinctive threat to the world of digital security. In this article, we will look at the nature of Generative AI fraud, analyze the messaging surrounding these creations, and evaluate their potential impact on cybersecurity. While it's crucial to maintain a watchful eye, it's equally important to avoid widespread panic, as the situation, though disconcerting, is not yet a cause for alarm.