Not to worry though, it’s not the “steal your credit card number” kind, it’s more along the lines of facilitating the running of games from burned Blu-Ray disks. Details are scarce at the moment, but apparently the hack known as “JB2” works, just like earlier attempts by using a USB dongle to bypass security when booting up a console.
There are signs that this may be no more than the previous 3.55 firmware hack in new clothing, so PSN is still out if you plan on flying the jolly roger, though the fact that it only offers a way to play burned Blu-Ray disks instead of booting them from the hard drive may give the cost-conscious pirate pause.
Source ps3crunch.net