I haven't been reverse engineering henkaku myself but I have been following those who have quite closely and this has just popped up on Reddit (not confirmed by team molecule) https://m.reddit.com/r/vitahacks/commen ... after_all/
Seems as though those who have been reverse engineering the hack have found it to actually be a kernel exploit although a well hidden exploit from the community hence why yifinlu is pushing people to reverse the hack I guess?