What are you talking about. I think this is just a rumor most likely started by some person who is against piracy. Moreover, you can bet that Sony is coming up with a solution to patch this exploit from occurring again in the near future.
OtherOS will most likely still be there, just difference is that it will have even tighter security than ever to prevent this kind of attack. Just like the RSX graphics exploit, I highly doubt they will leave OtherOS users hanging just because of this.
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