Hacking group FailOverflow is claiming to have decrypted the PS5, which will allow them to do very naughty and unauthorized things on the console. You may recall that the same group was able to jailbreak the PS3 several years ago.
What the above tweet may eventually result is the PS5 being fully ‘jailbroken’, which may lead some bold users to copy games from discs to hard drives, downgrade their system OS, and run emulated software. This will make Sony very sad obviously, so jailbreak at your own risk.

[Source: Twitter]