Here’s part of the pastebin detailing the process that Reckz0r wrote:
GUIDE:
- Create a folder on your USB storage device. This is where you’ll put the exploit.
- Create a „SANDERPS4“ folder. Inside that folder, create another folder named „EXP.“
- Extract the PSORBISEXP.PUP file from the package, and save it in the EXP folder.
- Make sure your PlayStation 4 is turned off.
- Connect the USB storage device to your PlayStation 4, and press the power button for at least 7 seconds. The PlayStation 4 will start in Safe Mode.
- Select „Update System Software.“
- Follow the on-screen instructions to install the jailbreak.
- If your PlayStation 4 doesn’t recognize the jailbreaking file, make sure that the folder and file names are correct.
- Voila! JAILBROKEN!
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You now have the ability to run unassigned/assigned code and pirated games on your PS4, but do NOT go online, if you do go online, your console will be immediately banned.
Have fun piratin‘
Official Source: http://pastebin.com/QDeRQiMY
https://twitter.com/Reckz0r/status/406848273496817664