After 3 years, 2 months and 11 days, the PlayStation 3 may finally have found its match in George Hotz. The man, who was one of the first people to take on Apple’s iPhone, claims to have once and for all hacked the hypervisor of the PlayStation 3.

While he has yet to reveal his methods or any dumps of the system itself — Hotz’ past indicates that he may be telling the truth. This could either be a huge blow or a breakthrough for Sony as a company. Despite the fact that having the console turn into a hack-fest being a completely bad thing, consumers usually like to purchase items that are easily modified to play free software (Look at the NDS, PSP and X360 — not to mention earlier PlayStation models).

Speaking on his blog, Hotz says “I have read/write access to the entire system memory, and HV level access to the processor. In other words, I have hacked the PS3. The rest is just software. And reversing. I have a lot of reversing ahead of me, as I now have dumps of LV0 and LV1.”

As far as the exploit goes, I’m not revealing it yet. The theory isn’t really patchable, but they can make implementations much harder. Also, for obvious reasons I can’t post dumps. I’m hoping to find the decryption keys and post them, but they may be embedded in hardware. Hopefully keys are setup like the iPhone’s KBAG.

A lot more to come…”

The way this plays out will surely be interesting. If Sony can’t patch the problem, they’ll be forced to play catch up with finding more and more ways to block the methods being used.

We’ll keep you posted on if this is legitimate or not.