From Playstation.com:
We sincerely regret that PlayStation Network and Qriocity services have been suspended, and we are working around the clock to bring them both back online. Our efforts to resolve this matter involve re-building our system to further strengthen our network infrastructure. Though this task is time-consuming, we decided it was worth the time necessary to provide the system with additional security.
We thank you for your patience to date and ask for a little more while we move towards completion of this project. We will continue to give you updates as they become available.
Playstation Network (PSN) Still Down

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