Attention people of earth. The unthinkable has happened. The Playstation 3 as we know it, has been compromised.

That is sadly about as much as we know. A brave young soul going by the alias geohot has claim that he has hacked the PS3. “I have read/write access to the entire system memory, and HV level access to the processor. In other words, I have hacked the PS3. The rest is just software. And reversing. I have a lot of reversing ahead of me, as I now have dumps of LV0 and LV1. I’ve also dumped the NAND without removing it or a modchip.” What does this mean to us normal folk? Not a whole heck of a lot at the moment. Just that some fun stuff should be coming our way now that there is a way to manipulate the PS3 system. When can we expect the actual fun to begin? We will probably have to wait a little bit longer.

“As far as the exploit goes, I’m not revealing it yet. The theory isn’t really patchable, but they can make implementations much harder. Also, for obvious reasons I can’t post dumps. I’m hoping to find the decryption keys and post them, but they may be embedded in hardware. Hopefully keys are setup like the iPhone’s KBAG.”

via On the PlayStation 3