If you thought that no exploit existed for FW 3.70, think again because xyz (@pomfpomfpomf3) posted a video on Twitter proving the opposite.
Obviously, FW 3.70 has been hacked and Team XYZ has decided to show off their work to us all!

In this video which can be seen in the tweet linked below, xyz boots up a PSVita 1000-series model running FW 3.70 (latest version of the Vita’s system software as of writing this article) in unhacked state.
After that, he opens the web browser and runs the exploit from a local server since Team xyz’s hack targets WebKit similar to FW 3.60’s HENkaku. Towards the end of the video, MolecularShell (VitaShell) 1.43 is opened which indicates that some homebrew has already been fixed to function on FW 3.70. From the video, it can be seen that the main people behind this exploit chain (hack) are xyz, st4rk and davee; all of which are PSVita hacking veterans.
As of right now, there is no mention of a release date or whether the exploit chain will be released or not. However, if you’re waiting for a hack to get HENkaku/taiHEN capabilities on FW 3.69/3.70, you’ll be getting a hack later this year by TheFlow for sure so you needn’t worry about being left out for too long!