Recently we reported on a 3.50 Firmware JailBroken PS3 x3Max video, and today PS3 developer xorloser has commented on the hack, as well as explaining why obtaining the hmac key for PlayStation 3 PUP files will not lead to PS3 Custom Firmware.
To quote from his blog, linked above:
"the hmac key for PUPs doesnt magically allow custom firmware. this is because all of the files that make up the PUP are signed anyway, so you cannot make custom versions of any of those files because you cannot sign them.
as for x3max supposedly working on v3.50, i call fake."
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