There were rumblings last week that a team of developers had worked out a way to crack the PS3's software to allow for all sorts of naughtiness, and now a notorious hacker has gone one step further by posting a hacking tool online.

GeoHot has posted the PS3 root key, which is essentially a a code that can be used to manipulate the PS3 into thinking that it's running legit software, even when it isn't.

Gaming site Kotaku is reporting that as the key lies within the console's hardware it will be "almost impossible" to repair - even with firmware updates and patches.

GeoHot has also posted a statement saying that he does not "condone piracy" and cheekily offering up his services to Sony, Microsoft and Nintendo to make their future machines secure.

"It'd be fun to be on the other side," he said