The vulnerability in Java first emerged late Sunday as researchers began seeing evidence of exploits targeting a new, unknown flaw. The potential for widespread attacks using this vulnerability is quite large. The vulnerability only affects Java 7, but there is working exploit code available, and there also is a module available in Metasploit for the flaw. Researchers have recommended that users disable Java altogether for the time being if they don t have a specific need for it. The attacks currently are emanating from a domain in China.
Source: https://threatpost.com/details-new-java-exploit-emerge-082712/76953/