According to various sources, one of the primary hackers responsible for the Jailbreak hacks for the iPhone has reported that he has achieved read/write access to the PlayStation 3 system memory, which is the basis for future hack development.

According to reports, the hacking has taken over three years to complete, which means that overall the system is quite secure and has a lot of safeguards in place to prevent access to the system. With read/write access having been achieved as well as HV level access to the processor, and with some additional software, a variety of possibilities are possible.

The hacker claims that he has dumps of the LV0 and LV1 that have been completed, but a significant amount of reverse engineering of these as well as the NAND is necessary. The hacker claims to have completed the dumping of the NAND without removing it or using some sort of a modchip to complete this process. The news is significant, as this opens some interesting development areas of the system to the hacking community.

While it is possible that a clever update could close some of these holes, it is unknown how much attention Sony is actually paying to this development. It is likely that the company will wait to see if this hacking actually goes any place before throwing updates that are targeted at closing these holes. Still, some have questioned the validity of the hacks and how much has been achieved; and until more information is released, we have to assume that there are going to be a lot more questions than there are answers.