Sony released the mandatory ver. 3.56 firmware for the PS3 system containing a new encryption key to axe the homebrew and piracy. The firmware is essential for playing new games as well as for accessing the Playstation Network.
'Geohot' Hotz, member of the a group called 'fail0verflow,' jailbreaked the PS3's security code last month, by taking advantage PS3's poor use of public key cryptography. Sony has already taken legal action against Hotz and several others for the hacks.
According to online reports some users have already released custom firmware builds (Ver 3.56) online, which however are have been considered as "fake" by the PS3 online community.