Well-known hacker Mathieu Hervais has reportedly found a bug that allows exploiting metldr, the bootloader and firmware version 3.56. Unfortunately, he refuses to release it.
Interestingly, it was recently rumored that Sony was soon going to be releasing new "unhackable" PS3 models to the market.
Originally posted by another user
Originally Posted by Mathieulh
I hesitated a lot before tweeting about it, but a bug allows exploiting metldr, the bootloader and 3.56+. I don't intent to ever unveil it.
Great work mathealuth! But a (no offense) a pussy for not releasing it but also a great reason why he didn't released it too but i'd wish he haves the balls to do it though