[headdie]

http://uk.videogames.games.yahoo.com/blog/article/20903/new-hack-blows-ps3-wide-open.html

The link name says it all

[Titan]

Isn't this old news?

[headdie]

Last month there was a partial hack

Sony is known to take a very dim view of those who attempt to bypass the PS3’s security. A previous effort to do so – the infamous ‘PSjailbreak’ dongle which was released last year – was met with legal action and a swift firmware update for the PS3. Such a solution is unlikely to work on this occasion, though. According to ‘pytey’"

but as I understand it this is the first hack of the console's encryption at the master key level which combined with the encryption algorithm allows you can do dupe the console into thinking non genuine software is legit

[carbine7]

Essentially, nearly all security was compromised because 4 apparently isn't very random a number when it's used for the encryption of the AES keys every single time. Now, those skilled enough can write custom firmware and essentially do whatever they want.