250w ago - Update: It's now confirmed as a fake guys.
Today Spanish PS3 Developer DemonHades has announced news that they may have decrypted the Sony PS3 HDD. We will update the 'rumor' status of this when more questions are answered of course.
Several PS3 Devs including NDT are currently investigating whether the method can be repeated in other PS3 consoles, or just for one console only (possibly brute-forced?) as it's already known the key differs between each.
Below is a picture of a font on the PS3 decrypted, followed by some preliminary (roughly translated) details:
The key is 512bytes is a sha1-4096 (512 bytes per sector). The key is xoreada own... To be sure it was not a simple xor as speculation... text still appears ... /cell_mw_cfs and more text:
The method I can/should I even say it is very close to an update could change the key or decryption/encryption. The first is to investigate all of its content and then go looking at what interests us is that we have to go 40gbs decoding one by one and is not easy.
But since you said that all the published info that this method allows for and is something that decode the hdd, as advice... I will not make an actualizar. It's about read PS3 hdd content (512 bytes xored key has been decoded), by the moment this means that hard disk content could be read, but not all info about this have been revealed.
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Actually, Team Twiizer's work had nothing to do with the public key. Since unsigned code could already be run in Gamecube mode, they wrote a program to extract the keys from memory, and shorted something to gain access to the Wii's portion of memory.
The entire point of using a public key is that it doesn't give hackers the private key. So while the public key won't help much, the private key could still be stored somewhere (in memory, on the flash, on the hdd, etc.)
CJPC or NDT, can you ask demonhades to decrypt 40gb model? I think they used ps2 compatibility to run unsigned code while XMB is running. IMO is plausible because is the only way to have hdd decrypted -> by running GameOS
If you followed the Team Twiizers on Wii, they first found common key, and found ways to retrieve your own private keys, even all keys included in your wii, containing unique keys of hardware with some months of reversing and some programming, if we can access files (swear DemonHades will kick ass) we will find all we need after some months of work on Ps3. Not the same hardware, but same possibilities of retrieiving private keys if we found public, common key after some work !