Hackers have managed to discover a brand new exploit for the PS Vita that works on the latest firmware for the handheld. This exploit allows the user to permanently open the hardware to all homebrew if they are on firmware version 3.65 but if you are updated to the latest firmware, which is 3.68, you can still use the exploit albeit with a temporary usage.
The exploit was discovered by TheFlow who has shared the complete method on how to run it on your PS Vita. It allows you to unlock the full capabilities of the PS Vita with emulation support of every PSP game among other things. There are already emulators available for the PS Vita that let you run almost every classic system so if you are up for some nice portable emulation, this can be now done on the latest firmware.
Hacking any hardware opens them to piracy which is always going to make it sound bad, and while I condone any piracy related discussion, I cannot deny the fact that there are a lot of advantages as well. Emulation of legal games is one of them but you can also hack the PS Vita to use an adapter that allows support for microSD cards letting you increase your storage. Sony has unfortunately made the PS Vita expensive on the wallet due to propriety memory card used for storage.
We strongly recommended to avoid using this exploit for piracy reasons but if you want to extend your storage needs or are looking for ways to emulate your legally owned copies of PSP games that are not available on the PS Vita, or emulated old games that you own, this is not a bad solution.