The latest Sony PSP firmware, version 3.03, has been cracked. (Given all these recent hacks, maybe we should change our name to Hackmodo?) It turns out that the powers that be didn't properly patch Grand Theft Auto: Liberty City Stories, so hackers are still using it to hack the PSP to pieces. Unfortunately, the only app that can be run on the newly rehacked PSP so far is of the "Hello, world!" vein, but a proper downgrader is expected soon. Downgrader = "homebrew," ahoy!

Goofy exploit by Noobz - Hello World on firmwares 2.0-3.03! *with video* [PSP Updates]