Oracle has released an update to address this vulnerability. Read more here and download updates here.
Mozilla is aware of a security vulnerability in the current version of Java (Java 7 Update 10) that is being actively exploited and affects any browser using the Java plugin. Firefox users may be vulnerable to this issue if they have the Java plugin installed in their browser. Information on how to check which plugins are installed can be found here.
Impact
An attacker could exploit this vulnerability to execute malicious software on a victim’s machine. This vulnerability is being actively used in attacks and the malicious exploit code is also available in common exploit kits.
There is no patch currently available for this issue from Oracle. To protect Firefox users we have enabled Click To Play for recent versions of Java on all platforms (Java 7u9, 7u10, 6u37, 6u38). Firefox users with older versions of Java are already protected by existing plugin blocking or Click To Play defenses.

We encourage users to always keep plugins up to date. Visit the plugin check website to update plugins now.
Information to fully disable the Java plugin can be found at the following page: http://support.mozilla.org/kb/How to turn off Java applets
Director of Security Assurance
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