XBox Hack Unveiled
Group representatives reject claims they are encouraging piracy and accuse the software company of failing to protect its game developers' intellectual property. A signed boot loader won't allow the console to run pirated games, whereas the exploit they have developed will. Free-X say piracy is not something they wish to encourage.
If this turns out to be legit which more than a few people believe it is, this is pretty darn significant.
From The Chatty
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It pretty much seems to be the real deal. Most insane