Last week we detailed a new hack for the PlayStation 3 that has some in the PlayStation Network concerned that they could face another major security breach like what happened back in 2011 when millions of users' information was compromised by hackers. But security firm GFI Software says that PSN users shouldn't be all that concerned about it. Chris Boyd, a senior threat researcher at GFI Software, said that the latest developments will likely not affect regular gamers.
"The PlayStation Network itself is still secure and users shouldn't panic. I've already seen one person say they cancelled their credit card as a result of thinking the PSN had been compromised (it hasn't). With the PS4 on the horizon, this may prompt SONY to speed up work on the upcoming console," he recently told The Register.
The latest news relates to the release of the LV0 decryption keys for the console. A Chinese group called BlueDisk-CFW was planning on using them to create and sell custom firmware for the PlayStation 3. When the group responsible for unearthing them in the first place - known as "The Three Tuskateers" - found out about the money-making scheme they decided to release all the information that they had on the decryption keys publicly so that BlueDisk-CFW couldn't take advantage of it.
Basically the keys allow for the decryption of old and new firmware updates. A savvy hacker could hypothetically decrypt a new firmware update, tweak it so that it could get by security features of any update after 3.55 (which dealt with the serious security issues that caused the big mess in 2011) and encrypt it again so older firmware users of modded PS3 owners could connect to PSN again...
"The only real benefit to this is for those already running custom firmware on hacked machines, who are now able to update their PS3 and go online. While they may be able to play games online until Sony change the PSN passphrase, it's unlikely to cause a wave of in-game cheating and modding," Boyd added.
We will continue to follow this story as it develops.
Source: After Dawn