There has been an exploit found in libpng <= 1.2.16. A vulnerability has been found allowing the execution of a Denial Of Service Attack. THIS DOES NOT MEAN ANYTHING YET! Its just a glimmer of hope for all PSP firmware 3.03 and above owners.
MOD EDIT: To all of you that have no idea how to craft an exploit: Please don't post. I'm sorry, but "is this ready" and "we should tell Fanjita / D_A" isn't going to help. Your post will be deleted and you will be banned from the thread.