A bug affecting the PlayStation's trophy information synchronization with Sony's server has brought down millions of PlayStations worldwide. It has been reported that the bug does not affect the "slim" model PS3s.
Sony's PlayStation Network experienced a problem that garbled its trophy sync process. However players are required to synchronize trophy information with Sony's online servers in order to play trophy-based games. This results in millions of PlayStations being unable to play trophy-based games either online or offline.
When users try to play the games they receive a warning message "Registration of the trophy information could not be completed. The game will quit. (8001050F)". Some games which don't use trophies or don't require the preliminary trophy sync are however working fine.
Forum users are also claiming to have lost saved games and 'trophies', the awards given to players for in-game achievements due to the bug.
It has been reported that the issue has something to do with a hardware date reset to 12/31/99. Changing the date in the device does not work and will most probably require a firmware update to fix.
The best advice at the moment is, if you have a pre-Slim model, don't switch it on until some clear guidance comes through.
Meanwhile, Sony has been updating the current status regarding the problem.
We're aware that many of you are having problems connecting to PSN, and yes, we're looking into it. Stay tuned for updates.
PSN status update: We're narrowing down the issue and continue to work to restore service to all. Updates as soon as we have them.
PSN status update (part 2): Readers/followers are confirming that "slim" units (120/250 GB models) are connecting normally.
You can follow @SonyPlayStation for updates.