What Causes Lump On Penis After Wearing A Ring?

hi! i had been using the rubber cock rings for about 5 years, and then one day after ejackulation,i felt something weird where i was wearing the cock ring at. the next day i noticed my penice had sunk,in the same place,and could feel some kinda lumps inside in that area. i havent been the same since, i dont have the thickness at the base of my penice now so it bends alittle. have you heard of this type of injury,and how can i some what fix it? thanks