Hackers the world over have been trying to crack the impenetrable Sony PlayStation 3 for years now, without success. But now, a modchip known as PS Jailbreak has been released claiming to do just that.

The device is for sale online at OzModChips.com, who also recorded video’s of the device apparently working.  

The tiny device is said to give PS3 owners the ability to dump their original PS3 games onto a FAT32 external hard drive. Gamers will then be able to play their games directly from the drive, eliminating the need for constant disc switching and giving downloadable games a backup space.  Gamers will only be able to transfer PS3 games in this manner, not older games or Blu-ray movies.

The plug and play USB device also apparently installs without voiding gamers’ warranty seal and works via a step-by-step graphical user interface (GUI).

The device is reported to work on all firmware versions, but has been designed to work with version 3.41. When installed the PS Jailbreak disables forced software updates, as Sony is likely to address the issue in later firmware upgrades. In turn, PS Jailbreak is also offering constant updates which can be accessed by connecting the device to a PC’s USB port and downloading the updates.

Apparently over 150 games have been tested with the device, and they’ve all been reported to work. The device is compatible with games from all regions including USA, JAP, PAL (that’s us) and KOREA.

None of this has been 100% confirmed thus far, check out the video and tell us what you think.

Please note that we at Techsmart do not condone the modding of the PS3 or any other console. It can be dangerous to the hardware and it’s illegal to boot, so don’t blame us if Sony bans your PSN account.