PS VITA Encryption Flaw

PSP Developer 'StreetSkaterFu' has announced that while playing around with his shiny new PS Vita he might have found a 'flaw' in their encryption system already!

Here is what he had to say:

Since I finally have access to a retail PS VITA, today I started with some basic tests.
After a complete freeze of the system within the first 5 minutes after unboxing (*always happens to new consoles 4 me rofl*), I went on and noticed that there is a problem with the VITA's encryption functions and was able to decrypt some test files directly via the system.
I will post updates as soon as I have news :)

- SKFU