Officially hacked
At a German hacker's convention, spectacularly called the 24th Annual Chaos Communication Congress, an American guy has given a presentation on how they've hacked the Nintendo Wii giving full access to the hardware and allowing for the future running of native homebrew.They were able to find encryption and decryption keys by doing full memory dumps at runtime over a custom serial interface. Using these keys, they were able to create a Wii ‘game’ that ran their own code (their demo happened to show live sensor/Wiimote information, amongst a few other things).
You can view the whole video over at You Tube. Close your eyes at the end of the presentation and the German guy sounds like he's straight out of an episode of Allo Allo.
Source :: Wii Nintendo.net