via http://wololo.net/wagic/2011/11/29/p...eased-by-skfu/

This is getting really really interesting… developer SKFU, who released a simple Firmware tool for the PS Vita a few days ago, updated it to version 2.0. This new version now supports all existing Vita firmwares (again, this is interesting only for the lucky among us who already have access to those files) and gives information about the extracted firmware, so it probably now does more than version 1.0, which would basically slice any file into smaller chunks.

But, even more interesting, is his latest application, PS Vita .pkg xTractor, SKFU says he his now able to extract and decrypt game packages from the PS Vita.
Now don’t get all high and start asking for an iso loader, for a console that is not out yet (Apparently, given SKFU’s latest post, he’s already the target of pirates-wannabee). In essence, that’s what this kind of research could lead to in a distant future, but for now it’s all fun, harmless research, and about understanding the Vita internals. SKFU strongly hints that the AES encryption key used for the Vita games is currently the same as for the PSP .pkg files (errr… ok, I’m lost here, I thought I was fairly knowledgeable about the PSP, what’s a psp .pkg file?), and that basically we can already decrypt those files. Was Sony that careless? Will they have time to fix that before the Japanese release in 2 weeks? Probably not. This makes the “release day” PS Vita models more and more interesting to buy.

Icing on the cake, SKFU provide some early information about the Vita games internals, as described in the image below, and a wiki has been opened for devs

more info --> http://streetskaterfu.blogspot.com/