Some awesome news for PS3 Owners or Playstation 3 if you prefer it that way, the PS3 is a game console i have owened from day 1, infact i still have 2 day one consoles, one working and one not, the one that hasnt has the yellow line of death and i tried getting into it and failed so gave up, the day one consoles have the PS2 innards if im not mistaken, anyway enough of my blurb, heres the news:

It was nearly 7 years ago since we have seen a PS3 Official Firmware Exploited (3.55 being the last), which predates many PS3 models and thus why those later Slim & SuperSlim models could never install Custom Firmware (CFW) and/or Downgrade. However that could all change as a team of three have been developing a new project (4.81 OFW Exploit) called PS3Xploit. The 'Unhackable PS3 models' will be a term of the past, but the exploits not quite there yet but the possibility of a HENkaku (vita) style hack is very plausible. Currently the exploit has allowed for access to enable Flash dumps on all consoles, Then Write access to Flash, unhackables (25xx +) will not be able to write but all previous PS3 will so that means Goodbye Hardware Flashers and Hello Software Downgradrs. The team is consisting of psx-place's very own @bguerville, @esc0rtd3w and W form the team behind PS3Xploit.