Ever since the days of the NES, we've found ways to get around some of a console's lockouts. From the Game Genie of yester year to today's CycloDS, the list is limitless. Get ready to add another one to the list. From the guy who made Wii Homebrew possible with the Twilight Hack, an ever popular way to launch Homebrew programs and emulators using The Legend Of Zelda: Twilight Princess, comes a way to launch pirated Wii games WITHOUT any modding whatsoever. Wii roms are easy to find and an SD card would pay for itself in a matter of games downloaded, leaving Nintendo suffering from unsold games.

Bushing (The fellow who has discovered the process of playing pirated games with an unmodded Wii), has tried to contact Nintendo about this. It is unknown if he wants to help Nintendo out or charge them to solve the exploit. Most likely, it will not be released. But if it is, Nintendo is either doomed, or must come up with a patch for the problem very quickly. Nintendo has responded back to Bushing, stating that although they don't support Bushing, but they are willing to listen to him to sort this problem out.

The Big Picture: The old way of playing pirated games used to mean buying an expensive chip, opening up your Wii, and risking frying it trying to install the chip. Now, if this new process of playing pirated games comes out, all you would need would be a SD Card.

As more comes in, I'll keep you informed. Thanks to Coolza for giving me the heads up and information on this issue.

EDIT: It is confirmed he will not release the code.

Sources:

Maxconsole (1)
Maxconsole (2)
Hackmii.com