George “Geohot” Hotz, who gained hacker fame for creating an easy to install iPhone jailbreak app, has done it again.

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.

Huzzah! We can play pirated games, make our own games, use the PS3 to wash our car and make sandwiches!

OK, maybe not, Hotz is still in the early stages of the actual hack and he goes into great detail about what he is doing and what he cannot do.

You can read the incredibly technical Geohot Blog, but he made a specific point in later posts that his site was for research only and will not feature an exploit kit like he did for the iPhone.

Despite the fact that we can’t download a PS3 Homebrew app yet, the hack is a real breakthrough. It took a staggering 3 Years, 2 Months and 11 days from the launch of the PS3 to hack it. Hackers jailbroke the Nexus One before it was even released.

I am eagerly awaiting more developments, even if I’m too scared to use most of these type of exploits on my precious, precious gadgets.

[Image Via On The Playstation 3]

Related posts:

1. PS3 3D Titles: Now Control 3D Depth With A Slider
2. PS3 Trophy Restoration Madness
3. Cheap Camera Hacked To Record High-Speed Video