Quote Originally Posted by Psyke
From magicbox:

iPhone hacker George Hotz "Geohot" has released the exploit code to hack the PS3 hardware. The exploit will give user full memory access and complete control over the processor, on PS3 running Firmware 2.4.2. He said the exploit should also work on all current versions.

Not sure if I want my PS3 games to be pirated
Not sure if true, but the exploit apparently needs the 'otherOS' functionality.

Anyways. This dude needs to be shot.