Do you own a bit.ly account, act quick and reset password and follow other instructions mentioned by link shortening service on its blog as they believe their user account credentials were compromised. They’re not sure about access to the compromised accounts, but to protect users, Bitly has disconnected all users Twitter and Facebook accounts and if you’re affected you need to reconnect those at next login.

"We have reason to believe that Bitly account credentials have been compromised. We have no indication at this time that any accounts have been accessed without permission. For our users’ protection, we have taken proactive steps to ensure the security of all accounts, including disconnecting all users’ Facebook and Twitter accounts. All users can safely reconnect these accounts at their next login." Bitly CEO, Mark Josephson said in a blog post.

Reset your Bitly account password, API Key and Oauth token: What you need to do now is log into your Bitly account, change your API key and Oauth token, reset your password, and reconnect your Facebook and Twitter accounts.