https://www.youtube.com/watch?v=3YaqY6cPox0
The code powering the PS3âs first modchip is now officially out there, meaning anyone with an internet connection and a USB microcontroller can get under their PS3âs skin.
This development renders Sonyâs impending court showdown with Australian retailers a shallow public relations gesture at best. Why? Because defeating them would be like cutting one head off a million-headed hydra; now that PS3-cracking code is out there online, and the only device you require to operate it is a legally-available PC accessory, anyone that has the will to back-up their PS3 games and the ability to read an internet forum will be able to do it.
As of right now, the standard PSGroove code doesnât let you play backups of your games. But now that itâs out there in the hands of hackers, that feature will be with us soon, if it isnât already.
Iâll be honest, the codework on this flies a mile over my head, but you can get a full account of how it all works at the link below.
PSGroove â Open Source PS JailBreak PS3 Exploit is Released! [PS3News]