It has taken just over 3 years, but appears the Sony PS3 might just have been hacked.
http://geohotps3.blogspot.com/2010/01/hello-hypervisor-im-geohot.html
"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. 3 years, 2 months, 11 days...thats a pretty secure system Took 5 weeks, 3 in Boston, 2 here, very simple hardware cleverly applied, and some not so simple software. Shout out to George Kharrat from iPhoneMod Brasil for giving me this PS3 a year and a half ago to hack. Sorry it took me so long :) 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."
This is the second time George Hotz has managed to crack into something, following on from his iPhone exploits.
Clearly a very talented individual as the PS3 appeared to have good security, and his solution comprises 5% hardware and 95% software.
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