Rumor has it that hackers attending 24C3 (the the annual four-day conference organized by the Chaos Computer Club where thousands of hackers, scientists, artists, and utopians gather from all around the world) have shown off a full Wii hack that allows them to run their own homebrew. If this is true, this could be the big homebrew breakthrough that Wii hackers have been waiting for. If this is true, there should be a video of the conference event soon.
Hackers demostrate full Wii hack at 24C3
According to internet reports, hackers at 24C4 demoed a full Wii hack that provides native Wii homebrew with full access to the Wii hardware without the Need for GC mode. They were able to find all the encryption and decryption keys by doing full memory dumps at runtime over a custom serial interface. Using the keys it was possible to create a Wii game that ran their own code. Read more and discuss the news here.
