EuroGamer claims that the new PSN-enabled custom firmware which was introduced recently for hacked consoles has been followed up by publication of the Sony PS3′s LV0 decryption keys. Back in the day, the underground PS3 scene did see custom firmware to be a regular occurrence, but Sony did do their part in making sure that such security breaches have been relegated to the past, making it virtually impossible to hack the PS3 after that. Not until now, that is.
EuroGamer’s Richard Leadbetter explained, “The release of the new custom firmware – and the LV0 decryption keys in particular – poses serious issues. While Sony will almost certainly change the PSN passphrase once again in the upcoming 4.30 update, the reveal of the LV0 key basically means that any system update released by Sony going forward can be decrypted with little or no effort whatsoever.”
Chinese hacking group BlueDiskCFW highlighted this particular issue, and they do have plans to make money by selling the custom firmware. Of course, it has been disputed that the BlueDisk team did not make this discovery, but just want the publicity and perhaps saw an opportunity to make quick cash off the masses.