Well, there you go Sony PS3 firmware 3.50 is now hacked. At last hackers managed to jailbreak PS3. This hack has been performed and announced by a group of hackers also known , according to the hackers they found an exploit in PS3’s latest 3.50 firmware and firmware version 3.42. The hack is implanted via USB mod which then enables your PS3 to run the pirated games.
PS Jailbreak also announced that they are also planning to launch a website that will allow users to downgrade their consoles to any previous version of PS3. You will feel ease to hack your device and downgrade it to any previous version.
This jailbreak can easily handle the new updates to be announced by Sony. PS Jailbreak believes that next versions will also be jailbroken by the USB mode.