Whoa, that could have been a lot worse. My buddy almost had the same thing happen to him on his bow. He just bought a Diamond Outlaw and we went to the range to sight it in. He mentioned he should wax his string and I didn't think too much of it because he just got it and has only shot it a few times in his backyard. As we are sighting in our bows, he mentions waxing the string again because he said it was starting to fray. So I take a look and realize his string is cut in half if not more

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After inspecting the bow, I found that the lower cam had quite a few sharp metal burs.