Probably the last thing we would expect to see on the PS3, after 3 years it seems legendary iPhone hacker George Hotz (Geohot) has managed to crack the PS3 security in under a month (Geohot was the first person to unlock the iPhone). He has posted on his blog that he has full hypervisor access and read/write access to the entire system memory. He also says that this is not patchable and plans to reveal the method soon. There is still more work to be done according to Geohot.