An investigation is underway at Emirates Team New Zealand over allegations of informants inside the organisation.
Team New Zealand says its suspicions were raised six months ago, and was recently confirmed when confidential and sensitive information came back to them from Europe.
The organisation said in a statement on Monday night it's refuting any truth in the informants' allegations regarding financial and structural matters. Their contracts have since been terminated.
An investigation by the Ministry of Business, Innovation, and Employment is investigating.
"The motives of the informants who had access to the Emirates Team New Zealand base can only be guessed at, at this stage," they said.
"In addition, these people have made highly defamatory and inaccurate allegations regarding financial and structural matters against ACE, ETNZ and its personnel.
"These allegations are entirely incorrect.
"As a result, the contract of the informants has been terminated.
"Although these allegations are baseless, MBIE [The Ministry of Business, Innovation and Employment] have no choice but to investigate despite our belief that the motives of the informants are extremely suspect.
"We are working with MBIE to close out the remaining issues with them quickly.
"Emirates Team New Zealand and ACE will not let this set us back in our America’s Cup defence or hosting of a great event this summer."
Team boss Grant Dalton told Stuff they weren't sure exactly what secrets had been leaked, but the unnamed contractor had access to their Auckland waterfront home base.
He said the waterfront base had been swept electronically on two occasions and IT penetration tests had been performed through firewalls, to insure the team couldn't be hacked.