Researchers have already found a vulnerability in Java 7 Update 7, which was only released yesterday. So far all we know is that a report, along with code demonstrating the security hole, have been submitted to Oracle, Java’s developer.
Details on the new Java hole show that it could be used to take over a vulnerable computer. So, once again, users are being urged to disable Java, especially in web browser software.
Your move, Oracle.
UPDATE 2012Sep01: SANS reports that a new email phishing attack exploiting this new Java hole is showing up in the wild. The email appears to be from Microsoft, and is patterned on a recent, legitimate Microsoft email message. The mail contains an URL that – once clicked – sends web browsers to a site that has been infected with the published Java exploit code. Advice to users is the same as usual: be very careful about clicking on any link you don’t know for sure is safe, and consider disabling Java in your web browser.