The folks over at Retro Gaming Arts revealed that by plugging the keyboard into the USB port of Sony's new mini-console and clicking the "Esc" button, you can open the full menu of the PlayStation Classic system, which in turn allows you to use multiple save states, cheats, or set the number of frames per second. Among the various options, there is also a meaningful command: "LOAD CD IMAGE".
This is probably a result of Sony using a free PCSX emulator that has seemingly not been edited by the company's technicians/developers in any way. The creators of the video also warn that although opening the system menu is possible for everyone, you should be careful - the authors did not test the options in great depth, and the process doesn't work with all keyboards.
Sony has not yet taken an official stance, and fans are already speculating about how to exploit the vulnerability in the system, for example, will we be able to upload other classics from PS1 to the retro console?
You can read our review of the PS Classic here.