It looks like the security of the PlayStation 3 has been cracked wide open. But then again we’ve thought the same thing in the past and Sony managed to patch those exploits. The latest in the cat and mouse game is the release of the LV0 encryption codes for the PS3 console. The guys who discovered the magic strings of characters supposedly intended to keep them a secret, but have gone public after there was a leak and some black-hats now intend to use them for profit.
The keys are the bottom layer of security when pushing firmware updates to the PS3. With keys in hand, current and future upgrades can be unencrypted, altered, and repackaged without the gaming rig putting up a fuss. Our only real beef with the tight security came when Sony removed the ability to install Linux on systems marketed with this option. The availability of these keys should let you install just about whatever you want on your hardware.
[Thanks Kris via Phys]