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"The security flaw that allowed the Rebug content exploit was known for years," the source explained. It was "unaddressed based on the belief that the PS3 system itself was unhackable".
Installation: Download and unzip the CFW ARCH Rebug_One archive (above) Copy / paste the file "PS3" and package "Update_Package_0.6.pkg" provided in the archive file on a USB drive formatted as fat32.
Free-download PS3 firmware behind PSN downtime? Unconfirmed reports peg "Rebug" custom firmware--which allowed for use of fake credit card accounts--as culprit behind PlayStation Network outage.