Looks like Y2K is back with a vengeance and struck the PS3. This really seems like a weird leap year glitch that is affecting the internal clock on the older models.
Original Model PS3 Units Suffering From Severe Glitches
Since last night many PS3 owners can't play games or sign into PSN.
Last night, many original model PS3 owners have had some complaints about their systems and their odd behavior. Many have had issues when trying to log into PSN which is apparently causing their systems to crash. Launching a game for the same individuals is causing a 8001050F error.
Some PS3 owners found that the internal system clock reverted to the date 12/31/1999, which makes it seem as if the errors are stemming from an internal clock glitch. In turn this is causing many users' trophies to disappear as well.
The official PlayStation Blog confirmed that 120GB and 250GB Slim PS3 models are not affected by this issue.
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