“Technically, the idea behind the hack is simple but brilliant,” says the source.
“The PS Vita has a PSP emulator, and we have plenty of PSP game exploits lying around. Can we assume they will work on the emulator? That’s what teck4 tried, and the answer is yes, so he managed to run unsigned code on the PS Vita.”
This isn’t the Vita being hacked (although I’m sure that’ll be the headlines later) rather the Vita happily running unsigned PSP code via the PSP emulation mode, which limits the code somewhat but still seems odd that this wasn’t plugged.
“So this can theoretically only allow to run PSP homebrews on the Vita,” says the report, “and also, only User-mode ones.”