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For those of us holding back on the 5.0 update to use savewizard etc, this setup of psproxy WORKS, using 4.74 can sign into psn, sync trophies and chat online, play online etc.
You must login or register to view this content. some people cant get the new version to work, this is the old version
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this is the latest version, tested working by me.
just extract this and use as is , set up the proxy on your ps4 and it should connect to psn, note that the connection test will fail though
also note not ALL games work etc, but most do