For those unaware, SCETool is a PS3 key crypto tool that supports a wide range of binary file types (SELF, RVK, PKG, SPP, OTHER).
To quote via Twitter: SCETool 0.2.8 (intermediate release)
Version 0.2.8 (intermediate release):
Fixed minor bugs where scetool would crash.
Added SPP parsing.
Decrypting RVK/SPP will now write header+data to file.
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One you get a stable execution (hint ROP) you can glitch HTAB entries and do anything except persistent root because bootldr couldn't even be figured out by fa1loverflow team..
If you're looking for a lv1 exploit you'll never get anywhere unless you get a talented RE person with a lot of time, and since it's obvious Linux means less than piracy is PS3 scene that isn't likely to happen..
basically a payload like the one used in the 3.41 jailbreak (hermes) is loaded into stack overflow when the ps3 tries to read this the payload is loaded into memory and you get unsigned code execution. but the problem is that ps3 is using the stack and it copies something to it instead of reading first.
so the payload which has been loaded there is being over written before it has been read and is deleted so if you could somehow make the ps3 read from stack or load the payload just before the stack gets read the payload would be loaded and you have a new jailbreak.
Generally, assuming that there is already a user mode exploit (think an exploit in a game), using this exploit will allow you to elevate permission to kernel level. The simplest way to think about it is the PSP exploits, and how multiple exploits were needed. Generally, of course!