What would your recommendations on this be then?
I am 95% certain that this code was on the receiving address page where you have the option to set expiry, save and new.
Well:
#1 its true, which means you have malware that injected the address in your electrum so you would send the coins to the hacker instead of your own wallet.
#2 its not true and you got the address from somewhere else, probably around that time. Keep in mind that its not a "new" address. As raj1 pointed out the address was used before.
IMHO #2 is more likely. It might even be one of your addresses from a different wallet.
How can i rectify this situation, i am literally f*cked if there is no resolution
You cant undo a transaction. Your only solution is to figure out where the address came from. If its the address under control of someone else, try to contact them.