The responsible party is the ChickHEN project. According to a certain YouTube video they were successfully able to use a TIFF exploit to get into a HEN (Homebrew Enabler) environment.
This is great news although not quite ready for the man in the street just yet. Stay tuned as I am sure it will be out there soon.
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we're pleased to announce that the ChickHEN project is definitely gaining some momentum. According to one extra special YouTube video, hacksters are now able to run the TIFF exploit and boot into a homebrew enabler environment on a PSP 2003 and a PSP 3000 running 5.03 firmware. The code is seen surviving a reboot, and both the system software and MAC address can be changed.