If you have seen a big drop in traffic to your web site on or around the 23 April 2012, there is a pretty good chance you have been hit by either the Panda or Penguin update to Google’s algorithm.
These updates have targeted SPAM in the Google Index.
The reason your web site has been affected may be simple or complex, but fixing it doesn’t need to be:
1) Fix on page SPAM issues on your web site
2) If you can, fix the SPAM issues on backlink pages
3) So called ‘Negative SEO’ isn’t really possible, don’t worry about it, and don’t spend time trying to delete backlinks
4) Add QUALITY backlinks (use a combination of your site’s url, targeted keywords, and non-related words i.e ‘click here’)