The exploit takes advantage of a vulnerability left open in Java 7 Update 10, released in October of last year. It works by getting Java users to visit a website with malicious code that takes advantage of a security gap to take control of users' computers. The exploit was first discovered by French researcher Kafeine, who claimed to have found it running on a site registering hundreds of thousands of page views daily.
What's worse is this particular exploit is reportedly being used to push ransomware, a type of attack that demands users pay to have control of their computers returned from a hacker's grasp.
Oracle has released Java SE 7 Update 11 to address the vulnerability. It "strongly recommends" that Java SE 7 users upgrade immediately.
You can read full article at Mashable.(Source of This information)
You can also disable it, but its recommended that you upgrade to Java SE Update 11.
To disable it in Firefox go to tools-->Add Ons, and disable it.
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