Sony has revealed it is investigating allegations that the PS3 has been hacked.

Earlier today, we reported how George Hotz, the iPhone 2G hacker, claims to have gained access to the PS3’s system memory and processor which, if true, may have profound piracy implications for Sony.

ncGamers.com contacted Sony and a spokesperson confirmed that the company is looking into the issue.

"We are investigating the report and will clarify the situation once we have more information," said the statement.

Stay tuned to IncGamers.com for more on this as They get it.