LinkedIn has had their issues recently with security breaches now Formspring has one on their hands. Check out the story on the Formspring breach after the jump.

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Social network Formspring is the latest victim of a massive password leak. More than 420,000 member accounts were compromised, the company has confirmed.

Formspring posted a message on its site on Tuesday that a hacker released 420,000 password hashes from its servers and posted the log-in information to a security forum. The news comes just weeks after sites such as LinkedIn, eHarmony and Last.fm experienced similar security breaches.

“We learned this morning that we had a security breach where some user passwords may have been accessed,” Formspring wrote on its site. “In response to this, we have disabled all users passwords. We apologize for the inconvenience but prefer to play it safe and have asked all members to reset their passwords.”

The site is still investigating what happened.

“Once we were able to verify that the hashes were obtained from Formspring, we locked down our systems and began an investigation to determine the nature of the breach,” Formspring said. “We found that someone had broken into one of our development servers and was able to use that access to extract account information from a production database.”

Formspring said it has since fixed the hole and upgraded its encryption.

“We take this matter very seriously and continue to review our internal security policies and practices to help ensure that this never happens again,” Formspring said.

Mashable