The Sony PlayStation Portable's firmware version 1.5 has been cracked this week. The company restricts its PSP so it can't run programs and games not vetted and licensed by the company.
Crackers managed to bypass the restrictions, the trick requires two memory cards, which are switched while the PSP is working.
The exploit may not be practical or safe (an accompanying warning says it could cause damage if done improperly), but it represents a challenge to Sony's policy of tight control and opens the possibility that PSP games could be pirated.
However, the crack does not work on the newest 1.51 firmware. More details at Yahoo