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Well, once again it has been reported that the 1.5 PSP has been hacked. This time it is coming from a Spanish group called psp-dev. Normally I would have dismissed this as a fake, because so far, little proof has been released. I hope someone will prove me wrong, however, several sites such as Engadget, ps2nfo.com and psphacker.com are all confirming that this looks legit.
Others are claiming that this could be a virus that will wipe out PSP's. So if you see something claiming to be the loader be careful and make sure it is from a reputable source before you run it.
Time will tell if this is the real deal or not. I will be sure to update this post when it is released on June 15th at 9AM EST