An alleged loophole in the Wii Internet Channel Browser’s Flash Player may allow hackers to run unsigned code, and potentially homebrew or emulators to be run on the console. The exploit in the Flash player that is included in the console could allow the homebrew scene to kick off on the Wii, much like the PSP has. Most current hacks and homebrew allow GameCube homebrew to be run, but still in Gamecube mode. More Inside >> The extra power from the Wii could allow more advanced Emulators to be created and potentially hurt Virtual Console sales. The hack so far has not done this, but it only takes one small thing to get the ball rolling. Nintendo would most likely attempt to patch this A.S.A.P, but as you know, hackers always try and find a way around these things.

Source: CVG