Remember the report on the anonymous hacker demonstrating an Xbox 360 running homebrew earlier this year? As reported at the time the Chaos Computer Club doesn't just allow any juvenile shouting tech jargon to speak on its hacker conventions. As it turns out, the hacker was indeed onto something very solid, and thanks to his report the security hole was already patched by Microsoft.
A new report found its way onto the BugTraq mailing list today, detailing the exploit and how and when it got patched. Since the report is full of techie gibberish, xboxic.com has tried to explain in layman's terms how the hack works.