To elaborate a bit more so you understand how the exploit works, when a PSX game is loaded in the PS2, the console looks for a file called TITLE.DB. This file is a database of special options to be applied to specific PSX games for their correct operation.
The exploit relies on creating a deliberately incorrect entry inside this file, which triggers a buffer overflow and, combined with a small stub loader located in the file, allows the execution of unencrypted code from the Memory Card upon the insertion of a specific PSX game. Normally, only programs encrypted by Sony, such as the DVD player, will run from the Memory Card. The discovery of this vulnerability in the PS2's software opens up the possibility of running programs created by the PS2 homebrew developer community (including CogSwapLoader).
Triggering the exploit requires a way of installing the modified files to the Memory Card, which is not possible by normal means. Installation is accomplished either from a console a disc swapping technique or through the use of some commercial programs allowing USB flash drive to Memory Card transferences, such as Code Breaker (versions 8 and higher) or Action Replay MAX, by transferring a modified System Settings save file. Alternatively a more involved method can be used, through the combination of a hard disk loader program (HD Loader/HD Advance), an ISO image installer program (such as Power ISO or Daemon Tools), and an image of some program allowing installation.
