Here's one for the medical journals.
I think I might have this.
Genital retraction syndrome (GRS), generally considered a culture-specific syndrome, is a condition in which an individual is overcome with the belief that his/her external genitals or also, in females, breasts, are retracting into the body, shrinking, or in some male cases, may be imminently removed or disappear. A penis panic is a mass hysteria event or panic where males in a population suddenly exhibit symptoms of genital retraction syndrome.
Penis panics have occurred around the world, most notably in Africa and Asia. Local beliefs in many instances assert that such syndromes are often fatal.
More on Wikipedia