Can I replace this camera's usb cable?

I have an eyetoy camera that works very well with my raspberry pi. However the USB cable is long as hell and there are five cables coming out of the camera into the USB. My shorter cable that I want to use is the standard 4-wire one. I suspect that there might be some sort of converter contained in the camera's cable, and that replacing it would be impossible. Here's the camera, and notice the lump at the end of the cable. What do you guys think?

Just finished soldering.

Just finished soldering. Works perfectly so far, thanks god. It’s a lot more to my liking now. I guess there was over a meter and a half of cable I got rid of.