This research article critically examines the potential risks and implications arising from the malicious utilization of large language models(LLM), focusing specifically on ChatGPT and Google's Bard. Although these large language models have numerous beneficial applications, the misuse of this technology by cybercriminals for creating offensive payloads and tools is a significant concern. In this study, we systematically generated implementable code for the top-10 MITRE Techniques prevalent in 2022, utilizing ChatGPT, and conduct a comparative analysis of its performance with Google's Bard. Our experimentation reveals that ChatGPT has the potential to enable attackers to accelerate the operation of more targeted and sophisticated attacks. Additionally, the technology provides amateur attackers with more capabilities to perform a wide range of attacks and empowers script kiddies to develop customized tools that contribute to the acceleration of cybercrime. Furthermore, LLMs significantly benefits malware authors, particularly ransomware gangs, in generating sophisticated variants of wiper and ransomware attacks with ease. On a positive note, our study also highlights how offensive security researchers and pentesters can make use of LLMs to simulate realistic attack scenarios, identify potential vulnerabilities, and better protect organizations. Overall, we conclude by emphasizing the need for increased vigilance in mitigating the risks associated with LLMs. This includes implementing robust security measures, increasing awareness and education around the potential risks of this technology, and collaborating with security experts to stay ahead of emerging threats.