Originally Posted by dehash

Have same problem. . 78 000 fucking back links sitewide from one site(by the way this guy sells links here on GFY and wouldn't remove them per request or even return your email ). I had to use disavow. Just write domain: site.com for entire domain.

On other side if you have a lot of really good links from good domains (good PR/DA/PA), then you don't have to worry(look at big tubes, they have millions back links, but it only coming few thousands domains).
But if you have nothing to loose, then try to use disavow, see if big G. will return you back in top. And you will have to keep adding links from good sites too, not just disavow bad ones. Or it is not going to work.
(took info from here adultseotraining.com )