PS3 hacked, public release soon?

A hacker by the name of George Hotz, who has previously helped crack the iPhone and open it up to accept other networks, has claimed to have finally cracked the PlayStation 3 and opened the platform up to homebrew software and - more worryingly for Sony - pirated games.

Hotz apparently spent five weeks working on the crack according to BBC News and plans to release details of how he did it once he has ironed out the kinks - which will probably be in a few weeks.

"It's supposed to be unhackable - but nothing is unhackable," said Hotz. "I can now do whatever I want with the system. It's like I've got an awesome new power - I'm just not sure how to wield it."

Hotz says that his hack uses the hardware to "inject an insecurity which he can then build on" with software. He admits to not having cracked the entire system, but says he has accessed the root key - potentially paving the way to a crack on the Blu-Ray disc protection too.

"I'm not going to personally have anything to do with that," said Hotz when asked about pirating games. "To tell you the truth, I've never really played a PS3. I have one game, but I've never really played it."

Sony has said that it is investigating the issue and will issue a statement when it has more info. Let us know your thoughts in the forums.