A few moments ago on Security Focus' BugTraq list an anonymous hacker posted about a vulnerability contained in the Xbox 360's memory management and encryption/decryption services, otherwise known as the Hypervisor.
The vulnerability only affects Kernel versions 4532 and 4548, and allows anyone with physical access to an Xbox 360 to run arbitrary code with FULL privileges.
Via Xbox-Scene
The vulnerability only affects Kernel versions 4532 and 4548, and allows anyone with physical access to an Xbox 360 to run arbitrary code with FULL privileges.
Via Xbox-Scene