The Play Station 3 has now been jailbroken. It’s a USB dongle that stops the security model of the game console to enable execution of the pirated games. The hack can be activated simply by plug and play of the $170 (Australian) USB stick into the system. Once jailbroken, it allows the PS3 owners to run back-up copies of games and pirated titles. What’s more? The hack works with firmware 3.41 on all PS3 models, including the recently introduced PS3 slim.
Update1: Complete guide on How to Jailbreak PS3 is posted here.
Here is a video of PS3 Jailbreak
~Contributed by Uzair Danish
[Source: PS3 News]