Some files containing a User mode exploit in Urbanix, as well as a Kernel exploit (that still has to be reverse engineered) were leaked by a youtube user named Sam Jordam. This guy was a known a##hole for some time already, and has proven to be up to his reputation. The files he stole then leaked are encrypted and not usable for anybody in their current state. One of the only persons who could have helped with this, famous hacker Coldbird, decided to leave the scene after this. There is so far one can go for the love of homebrews.
This all started 4 months ago, when I discovered the Urbanix user mode exploit and a fitting kernel mode exploit to go along with it... VHBL has always been interesting to me and I wanted to take it a step further, wondering whether a full CFW was possible on Vita.
What shall I say... 3 months later, it was done. A fully working CFW for Vita... but the time wasn't right for a release... so many things were still out of place...
PSX emulation worked, but we didn't have sound, Sony's new console was still having problems getting it's safe spot on the market and - while a whole lot of people think we are pirates, we are the total opposites.
Yes, the CFW could play ISO files, but no - we never supported piracy... and we knew that PSN sales of PSP games would dwindle if this became public. With Vita still having a more than suboptimal amount of good games to go with it, the PSP PSN sales were what kept the console going... and we didn't wish to harm this very fragile ecosystem.
We knew the time for it to shine wasn't there yet... and we made sure this would stay this way for a while...
We placed a whole bunch of security locks onto the files, so that even if a leak occured from our beta testers, like the one you guys saw a few days ago, no one would be able to use it and Sony's new system would remain secure and tight, unharmed by piracy - which sadly - whether we like it or not... is a negative side effect of the work we do to enable homebrew.
So yes... the leak is real, yes it contains both a user exploit and a kernel exploit... and in fact, a tightly locked - publically unusable - CFW too.