Did I just invent a new word? Or was it already there?
In any case, the wily group known as “Free-X” has, according to this ZDNet report, released their software only method to hack the Xbox. Apparently, the only way MS can defend against it is to release a new version of the Dashboard - which is actually fairly easy for them to do, if you have Live. It has a difficulty index somewhere between flipping a lightswitch and opening a cupboard.