GTVHacker announces that they have successfully hacked and rooted the media device.
"Lucky for us, Google was kind enough to GPL the bootloader source code for the device. So we can identify the exact flaw that allows us to boot the unsigned kernel. By holding down the single button, while powering the device, the Chromecast boots into USB boot mode. USB boot mode looks for a signed image at 0×1000 on the USB drive. When found, the image is passed to the internal crypto hardware to be verified, but after this process the return code is never checked! Therefore, we can execute any code at will."