Sony has just released an official Statement regarding PS3 Hacking and running Pirated softwares on it after such a long time. Months ago PS3 was hacked by fairflow team and Geohot. Sony filed a sue case against Geohot and some other hackers to cease hacking of PS3.
Official Statement from Sony:
Notice: Unauthorized circumvention devices for the PlayStation 3 system have been recently released by hackers. These devices permit the use of unauthorized or pirated software. Use of such devices or software violates the terms of the “System Software License Agreement for the PlayStation 3 System” and the “Terms of Services and User Agreement” for the PlayStation Network/Qriocity and its Community Code of Conduct provisions. Violation of the System Software Licence Agreement for the PlayStation 3 System invalidates the consumer guarantee for that system. In addition, copying or playing pirated software is a violation of International Copyright Laws. Consumers using circumvention devices or running unauthorized or pirated software will have access to the PlayStation Network and access to Qriocity services through PlayStation 3 system terminated permanently.
To avoid this, consumers must immediately cease use and remove all circumvention devices and delete all unauthorized or pirated software from their PlayStation 3 systems.
In Short: Get caught with custom firmware, find yourself banished from the PlayStation Network forever.