Yesterday's Playstation 3 firmware update 2.40 has been one of the most sought for console updates with its addition of in-game XMB and trophies. Unfortunately, it also caused an unusual amount of problems.
Playstation 3 firmware update 2.40 caused a number of problems ranging from causing the console's controllers to malfunction to bricking the system all together. The problems have been confirmed to occur evenly across all Playstation 3 versions (20GB, 40GB, 60GB and 80GB).
A number of theories and workarounds have been proposed by Playstation 3 fans, but none of them is convincing enough yet.
Due to the widespread problems, Sony decided to pull off the once mandatory update and issued an official statement saying that "In order to further assess the issue, we have temporarily taken the firmware offline for further testing. We are working diligently to isolate the problem for those few consumers and to identify a solution before we put the firmware back up."
If you are one of the unlucky gamers who got their Playstation 3s bricked (doesn't boot up) after updating to firmware 2.40, you can take off the console's hard disk drive, connect it to a PC, format it, then put it back into the Playstation 3. Your console will boot and ask you to reformat the hard disk, do it and everything will run normally. Of course, this workaround means losing all your savegames and downloads.