As a owner of a Playstation 4 which is on firmware 5.05 this is very exciting news even if not a lot has been revealed as of the moment, heres the news:

qwertyoruiopz said:
i rewrote the public webkit exploit that worked on 5.50 so it doesn't suck (should be 100% reliable), you can find it at http://crack.bargains/550 - old kexploit was fixed in 5.50!

NEWS SOURCE #1: @modrobert (via) Twitter
NEWS SOURCE #2: @HydrogenNGU (via) Twitter
NEWS SOURCE #3: @qwertyoruiopz (via) Twitter

via
http://www.maxconsole.com/threads/playstation-4-v5-50-firmware-is-getting-hacked-faster-than-usain-bolt.46615/