The team of hackers behind the Wii’s Homebrew Channel named fail0verflow has announced at the 27th Chaos Communication Conference that they have found the PS3’s Private Cryptology Key which can be used to change the function of the PlayStation 3 and allow users and developers to create new software for the system.
The team said during a live demo:
“It’s not an exploit, it’s an Epic Fail by Sony. The PS3 is fine. They screwed up in HQ. They gave us their private key basically. They leave their private key mathematically, so we don’t have to exploit anything, we just sign things and yes, we’ll release all our tools as soon as we cleaned them up in January or so.”
This means that now the hackers can have full access to the console without the need for a USB device or actual software/hardware hacking. Typically the “magic password” is used by Sony to authorize the execution of code on the gaming console. Now as Sony’s key has been obtained by fail0verflow hacking team, hackers can now develop hack-free apps and games to execute on the PlayStation 3 as if they’re licensed developers.
As of now, the team hasn’t provided any proof that the deed’s been done but they have rather extensively explained how they managed the feat.
Sony chose to remain silent therefore has not responded to this development. It is being speculated now that Sony would soon come up with another system update to resolve the issue.