Sony (NYSE:SNE) PS3 Locks Users from Network and Erases Work

Sony (NYSE:SNE) announced it found the bug that has knocked some PlayStation 3 users off the console's online network.

Sony said the problem was likely caused by a bug in the clock functionality in the system and it is only affecting older models, not the newest slim version.

Sony did not comment on how many users were affected by the problem.

Sony said on a blog that it expects to resolve the issue within 24 hours.