Drop in Backlinks?

Hey Guys,

Anyone noticed a Steady Drop in Backlinks in Webmaster tools?

One of my site had over 788 Backlinks from 300 Domains.. Now its just 6 Links from 2 domains... anyone else has this exp?

does it means all of my backlinks to tainted off?

No, I dont see any of the drop in my website, i am using both Google webmaster tool and Bing webmaster tool, however traffic is not getting increased, from the past few days.