Sony will always patch their PS 3 firmware to prevent jailbreaking their PlayStation 3 console and prevent users from installing cracked unsigned copy of PS3 games. But however, effort and curiosity about how to perform PS3 Jailbreak even on latest firmware, is always managed to be success. Finally, GeoHot has released Sony PS3 jailbreak tool for PS3 Firmware v3.55. All you need to do is install PS3UPDAT.PUP file [PlayStation Update Package] on your console running firmware 3.55 to jailbreak PS3. Just install the PUP from the PS3 recovery menu.
Steps to Jailbreak Sony PS3 3.55 Firmware
1- Plug a USB stick into your computer
2- Download PS3UPDAT.PUP file.
3- Create a folder in the root of the USB stick called PS3 and than create a folder inside the PS3 folder called UPDATE.
4- Unzip Jailbreak.zip to PS3UPDAT.PUP and move PS3UPDAT.PUP to the directory UPDATE that you just created on the USB stick
5- Plug the USB stick into your PS3.
6- Navigate to Settings Tab and choose System Update option.
7- Choose Update via Storage Media
8- It will say it found Version 3.55-jb, Choose [OK] and Accept Conditions and Install Update.
9- After less than a minute, your PS3 will update, beep 4 times then shut down.
10- Power up your PS3 (You will have to do it on the console and not by the controller)
However this jailbreaking procedure still doesn’t allow piracy, and you won’t be able to play backup or pirated games. You can only install packages with the provided installer. You can follow these steps to isntal the package:
1. Plug your USB stick into your computer
2. Drop http://geohot.com/test.pkg into the root of the USB stick
3. Plug your USB stick into your PS3
4. Navigate to the Game Tab
5. Choose Install Package Files
6. Select the test.pkg