After one year Jordan Rabets mission to run Homebrew on the Nintendo 3DS was finally complete. Rabets aka Smealum a 22 year old from Stanford, CA managed to crack the Nintendo handheld consoles security.
In order to perform the exploit you will need to use a game called Cubic Ninja which needless to say has been removed from Nintendo's eStore already:
Retail versions of the game have shot up in price since the news of the exploit, one gamer reported "I started trying to buy this on Amazon the moment you posted this and it is selling out like hotcakes. Items unavailable as i order."
The exploit works on all the handhelds, 2DS, 3DS, 3DS XL, N3DS and N3DS XL are all vunerable to the Ninjhax exploit which uses a gamesave exploit in order to run the launcher.
No doubt Nintendo will patch this up pretty quickly to prevent the system firmware being exploited via the gamesave. Once Nintendo patch the firmware the exploit will not work which will make the game useless, so hold off paying out crazy money for Cubic Ninja... just in case.
The vulnerable firmware versions are 4.0 through to the latest, 9.2.
Watch the release video here and find out exactly how to use the Ninjhax homebrew exploit.