George Hotz, the young gun who first hacked the iPhone 2G, has claimed to have compromised the Playstation 3. On his blog, Hotz wrote:
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.
Hotz hasn't revealed the exact details of the exploit, so nothing's confirmed quite yet, but interested PS3 users should stay tuned to see how this unfolds