Update #3: Life is returning to the PlayStation Network, though it may take some time as the network stabilizes.

Network service is currently returning for PS3 and PS Vita users, but you may experience slowness or login issues as the network stabilizes — PlayStation (@PlayStation) August 25, 2014

Update #2: Sony has posted an update on its blog confirming that the network outage is due to DDoS attack, and the safety of users' personal information.

Like other major networks around the world, the PlayStation Network and Sony Entertainment Network have been impacted by an attempt to overwhelm our network with artificially high traffic.



Although this has impacted your ability to access our network and enjoy our services, no personal information has been accessed.



We will continue to work towards fixing this issue and hope to have our services up and running as soon as possible.



We regret any inconvenience this may have caused.

Earlier today, Sony confirmed it was fully aware of the issue and is at work to get the network back online, which you can see below.

[Source: PlayStation blog]

Update #1: Sony is aware of the issue and is working to get the PlayStation Network back online.

Network update: our engineers are aware of the issues and are working to resolve them. We'll keep you posted - sorry for the inconvenience — PlayStation (@PlayStation) August 24, 2014

Original story:

The PlayStation Network is currently down, and reports are pointing to a DDoS attack as the culprit.

According to a report from Shacknews, Blizzard's assorted online networks as well as League of Legends and Path of Exile's networks were all attacked, but those seem to have recovered. The PlayStation Network, on the other hand, is still down as of this writing. A group calling themselves Lizard Squad have taken credit for the attacks.

[Source: Shacknews, via Joystiq]

Our Take

DDoS attacks basically flood a network with information and requests causing them to buckle, so there isn't any need to need to be concerned about private information being compromised – at least not yet. It's mostly just an inconvenience, albeit an obnoxious one.